Radio Could be next The new CFO is doing exactly what he is hired for.....maximization of all assets preparatory to their sale.
Radio could be the next asset sale.
$ 9 million in sales but not overly profitable because they are small operations.
Nfld Capital sold their radio interest to a national chain for $508 million, including $112 m in debt.
Total revenue was $165 million or about 3 times annual sales including significant debt.
Zoomer will sell its radio networks debt free so 3 times sales seems reasonable.
That would boost the cash position above $50 m and no debt...
Like shooting dead fish in a barrel..