“A decimated radio business has triggered the fire sale of three radio stations to a former NFL linebacker who an insider says might take one of those stations out of music and into sports. John Lynch, who once played for the Pittsburgh Steelers, just finalized a deal for his company, Broadcast Company of the Americas, to take over 91X, Magic 92.5, and Z-90 from locally based Finest City Broadcasting. Finest City took over those stations four years ago for $110 million. Lynch/BCA got those stations by assuming $18 million in debt, meaning the three stations lost more than 83 percent of their value in four years.”
So, basically, this purchase puts pressure on the other stations to consider format and personnel changes….
There was rumored to have been an auction (at the bottom of the link….