Equity Media Sets Auction For StationsBeleaguered broadcaster holds fire sale April 16 4/10/2009 10:24:10 AM Eastern
Equity Media will auction its 100-plus stations at 10 a.m. April 16 in Dallas. The stations are mostly small low-power outlets in markets ranging from Nashville to Las Vegas to Butte, Montana.
Patrick Communications is assisting with the auction. Interested parties are asked to submit a bid on or before April 13 that's at least equal to a minimum bid set out by Equity. Minimums range from $750,000 for KAMT Amarillo and $1.5 million for KKYK Little Rock to as little as $50,000.
Equity Media Holdings is operating under Chapter 11. It sold digital channel RTN for $18.5 million in June to help ease its fiscal woes.