DERBY – It’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.
Rumors that the stations have been sold have been circulating for the past couple of weeks.
“There’s been an offer on them, but they haven’t been sold,” said general manager Michael Waggoner, “MOO will always be MOO.”
During an interview Thursday morning, Waggoner said Nassau Broadcasting is going through reorganization and it’s financial backer, Goldman Sachs, requested a property auction to recoup some of its money.
“Nassau’s approach on this is they’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. “People made bids that were looked at and accepted by the (bankruptcy) court a week ago. Now, the owners of Nassau are bidding.”
In an e-mail, Waggoner stated that Vermont stations are doing well and management is seeking salespeople.
“We’re in pretty healthy shape,” said Waggoner. “The reports of our deaths have been greatly exaggerated. We look forward to being here a long time. We’ve been here seven years now and I don’t see any change.”
Waggoner said he can’t control what the court decides.
Waggoner spoke very highly of the staff at the Derby stations. “Deveney is going to be on the air every morning,” Waggoner said of one announcer.
Tom Steele put WMOO on the air in the early 1990s. Several years later, he purchased WIKE.