BroadcastAmerica to Merge with SurferNETWORK.com

BroadcastAmerica to Merge with SurferNETWORK.com
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Internet station BroadcastAmerica has filed for Chapter 11 bankruptcy, and intends to merge with SurferNETWORK.com as part of its reorganization.
The new company would be called BroadcastAmerica and remain headquartered in Portland, Maine.
Although the outcome of the voluntary bankruptcy filing is uncertain, the plan is when the transaction is completed, SurferNETWORK.com chairman/CEO Gordon Bridge, would hold the same position for the combined company. BroadcastAmerica president/COO John Brier would retain that title with the new company.
"Once the new company is formed," Brier said, "I believe no other Internet destination will be able to offer our breadth of quality content with proven, targeted advertising, tailored to listeners' tastes and demographics."
The company did not disclose the terms of the letter of intent, but the companies said they are working together to reorganize the existing BroadcastAmerica.
"We are creating the global leader in distributing streaming media content," said Bridge. "The new company will bring together the technology and radio station groups from SurferNETWORK, with the hundreds of radio stations from BroadcastAmerica, which had more than 1.5 million unique listeners in October."
Laura Dely

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