[SBE] TV Station Purchase Checklist

[Bob Reite]

Most contacts have such a clause. I was involved in a non directional AM 
station sale, in which the top 50 feet of the tower got ripped off in a 
bad ice and wind storm between the signing and the closing.  The seller 
had to get a bid on repairing the tower and subtract the cost of the 
repair from the purchase price.

A9xw at cs.com wrote:

> It is called a risk liability. The equipment must remain in the same 

> condition as it was inspected until the close of sale. So any defects 

> must be fixed before closure. After closure caveot emptor. We just 

> bought an FM station and 3 days before closing the harness burned up. 

> The previous owner had to repair it before we would close, and we 

> inspected the repair prior to closing to make sure it met proper 

> engineering standards.

> 

> Henry

> 

> 

> ------------------------------------------------------------------------

> 

> _______________________________________________

> The SBE Roundtable, SBE at sbe.org

> To unsubscribe, go to http://seven.pairlist.net/mailman/options/sbe

> 

> http://seven.pairlist.net/mailman/listinfo/sbe