Nassau Broadcasting's $48M Radio Station Sales Get Clearance

Law360, Wilmington (May 7, 2012, 5:11 PM EDT) -- Nassau Broadcasting I LLC won a Delaware bankruptcy court's blessing Monday to sell a host of its radio stations to several different buyers for a combined $48 million, with a Goldman Sachs Group Inc. unit claiming most of the assets with a credit bid.

U.S. Bankruptcy Judge Kevin Gross approved the sales at a court hearing in Wilmington.

At a “robust auction” last week, Goldman Sachs Credit Partners LP bid $38.7 million of Nassau’s debt for 11 radio stations in Pennsylvania and New Jersey, according to...
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