Wayne Dowdy, through his Northshore Broadcasting, operates two FM stations and an AM on the north shore of Lake Pontchartrain, to the north of New Orleans.
Since 2011, he’s also been the debtor-in-possession of nine properties, located in both Louisiana and Mississippi.
Now, the stations are being transferred — to Northshore.
In a transaction that saw Ari Meltzer of Wiley Rein serve as counsel, for the license transfer, Dowdy is transferring the following properties to North Shore:
The stations have been assigned to Magnolia, Miss.-based Brookhaven Broadcasting, doing business as Southwest Broadcasting.
The transfer of the 10 stations comes following a May 2 confirmation hearing of Dowdy’s Chapter 11 plan, with a U.S. Bankruptcy Court Order entered on August 2 approving and finalizing the reorganization effort.
This resolved objection to Dowdy’s plan from the U.S. Trustee and from ASCAP.
The Law Offices of Craig M. Geno of Ridgeland, Miss., handled all debtor-in-possession bankruptcy court litigation on behalf of Dowdy.
On Sept. 21, 2011, Dowdy initiated a Chapter 11 Bankruptcy process by
dissolving the wholly owned Mississippi corporations Southwest Broadcasting and
Brookhaven Broadcasting and assigning the licenses to himself.
Dowdy is a former member of Congress.
