Saturday, January 22, 2011

Media Services Group engaged to sell Atlantic City stations

Press Release from January 20, 2011

Atlantic Broadcasting of Linwood NJ Limited Liability Company announced today that Media Services Group has been retained by the company to sell its five radio stations and related assets in the Atlantic City, NJ market. The selection of Media Services Group has been approved by the United States Bankruptcy Court, District of New Jersey.

Atlantic Broadcasting voluntary filed for Chapter 11 bankruptcy on December 20, 2010 seeking to reorganize through the sale of its broadcast assets.. The radio stations involved in the sale include:

WTKU-FM 98.3 Kool 98.3 Classic Hits
WMGM-FM 103.7 The Shark 103.7 Classic Rock
WBSS-AM 1490 La Fiesta Spanish
WOND-AM 1400 News/Talk 1400 News/Talk
WWAC-FM 102.7 Wild 102.7 Top 40

In addition, the company owns three parcels of real estate, including two tower sites and an 11,670 square foot building located in Linwood, NJ.

Media Services Group’s Tom McKinley in the metro New York office and George Reed in the firm’s Florida office will handle the brokerage duties. The stations are being put on the market immediately. An online due diligence data room has already been organized and is available to qualified prospective buyers. Interested parties should contact Media Services Group.

For More Information:

R. Thomas McKinley, Director
Media Services Group, Inc.
973-631-6612 Office
415-710-5350 Cell
RTMcK2515@aol.com

George R. Reed
Media Services Group, Inc.
904- 285-3239 Office
904- 631-7093 Cell
George@MediaServicesGroup.com

About Media Services Group

Media Services Group is a leading national media brokerage firm specializing in radio/TV stations, their digital assets, and communications towers. The firm matches broadcast station and tower buyers and sellers with a middle market focus. The company’s valuation practice is among the top in the industry.

Media Services Group also assists broadcast lenders with troubled loans, including providing receivership and trustee services. We have served the industry, its investors and lenders for over 20 years.


George
Media Services Group