This from All Access:
Lender Wins Bidding For Seattle, Cincinnati Station Assets
Lender CAPITALSOURCE FINANCE LLC won the auction for the assets (not including the licenses) of FIRST BROADCASTING CAPITAL PARTNERS SEATTLE market move-in Oldies KMCQ/COVINGTON, WA and CINCINNATI-area Adult Hits WAOL (MAX FM)/RIPLEY, OH, and Spanish Variety WOXY (LA MEGA 97.7, LMAd to TSJ MEDIA)/MASON, OH on WEDNESDAY (2/23) in CHICAGO.
The move by CAPITALSOURCE gives the lender title to FIRST BROADCASTING’s collateral, leaving the licensee prmiarily with the licenses and giving the lender a first step towards a possible sale of the operations.