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Monday, February 8, 2010

BizRadio is back on the air at Houston's 1110

The financial talkshow operation owns daytimer KTEK (1110) but had recently left it to get a fulltime signal on Entravision’s KGOL (1180). The 1110 signal had gone brokered-ethnic through a deal with Asia Vision, but BizRadio decided it wanted to re-take possession of the frequency. Now the Houston Chronicle reports the outcome of a court hearing that re-installs BizRadio on 1110 and effectively pushes Rehan Siddiqi’s Asian Vision off. Siddiqi had won a temporary restraining order earlier in the week after being told he was being bumped. But a different judge, State District Judge Robert Schaffer, refused to grant Siddiqi’s request for an injunction. BizRadio principal Daniel Frishberg claims the deal Ronald Crider made with Siddiqi wasn’t valid, since Crider wasn’t authorized to make it – even though Siddiqi “produced documents, emails and Crider’s business card listing him as CEO”, says the Chronicle. Frishberg maintains he didn’t approve the deal, which was apparently an LMA with purchase option. BizRadio paid $7.6 million for KTEK, Alvin, Texas two years ago, and the LMA/purchase deal would have sold it for just $3.5 million. The Houston Board of Radio-Info is talking about BizRadio, here.

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