According to http://news.radio-online.com Douglas Kreeger, an initial investor and former Air America Radio CEO, told the New York Times on Friday that there is "a signed letter of intent" for a new group to take over the network, and that he is "likely" to be a part. Additionally, former AAR board chairman, Terence F. Kelly, will likely take the lead equity position. Kelly told the newspaper that the investor group included a new "strategic media partner" and both men declined to speculate when the deal would be complete. (12-18-06)
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Posted by djsource1
at 6:42 PM PST
Updated: Tuesday, 19 December 2006 6:48 PM PST
