Paul Brissette
Brissette, Piedmont's chairman and one of its major investors, is legendary for his cost-cutting at other stations. He did not return calls seeking comment on the WKBN dispute.
In a May 2003 interview, Brissette said Piedmont Broadcasting had secured a new $100 million line of credit and would be seeking another $700 million from investors and lenders to finance station acquisitions. Piedmont had just been offered $260 million for its 13 stations, he related, but the company was not for sale.In 2001, Piedmont, then called Gocom Communications
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At the time, Brissette was visiting the two Youngstown television stations, WKBN and WYFX, that his North Carolina company operates. He had just completed a $100 million refinancing of Piedmont Broadcasting Co., and was figuring on raising as much as $700 million from investors and lenders to finance additional station acquisitions.Two months before, Brissette says he turned down a $260 million offer for Piedmont's 13 television stations. The unsolicited offer, from a buyer Brissette declined to identify, was just the latest in "many big offers" that had come his way.Then came what Brissette did not anticipate -- new media ownership rules handed down June 2 by the Republican-controlled Federal Communications Commission that gave big market operators and networks virtually everything they wanted and small-market operators almost nothing.
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And so, Brissette, a conservative Republican who gives generously to the G.O.P. and the president's campaign committee, finds himself opposed to the FCC's action June 2
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http://www.business-journal.com/mediascope/Aug03mscope.html