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DERBY â€“ Itâ€™s business as usual for WMOO-FM and WIKE-AM, even though its parent company, Nassau Broadcasting, filed for Chapter 11 Bankruptcy.
The bankruptcy filing includes all stations the company owns in New England, New Jersey, Pennsylvania and Maryland. Â Â
Rumors that the stations have been sold have been circulating for the past couple of weeks.
â€śThereâ€™s been an offer on them, but they havenâ€™t been sold,â€ť said general manager Michael Waggoner, â€śMOO will always be MOO.â€ť
During an interview Thursday morning, Waggoner said Nassau Broadcasting is going through reorganization and itâ€™s financial backer, Goldman Sachs, requested a property auction to recoup some of its money. Â
â€śNassauâ€™s approach on this is theyâ€™re planning to bid on the auction too, said Waggoner. The company would like to buy back the stations at prices more fitting to the economy. â€śPeople made bids that were looked at and accepted by the (bankruptcy) court a week ago. Now, the owners of Nassau are bidding.â€ť
In an e-mail, Waggoner stated that Vermont stations are doing well and management is seeking salespeople.
â€śWeâ€™re in pretty healthy shape,â€ť said Waggoner. â€śThe reports of our deaths have been greatly exaggerated. We look forward to being here a long time. Weâ€™ve been here seven years now and I donâ€™t see any change.â€ť
Waggoner said he canâ€™t control what the court decides.Â Â Â
Waggoner spoke very highly of the staff at the Derby stations.Â â€śDeveney is going to be on the air every morning,â€ť Waggoner said of one announcer.Â
Tom Steele put WMOO on the air in the early 1990s. Several years later, he purchased WIKE.