Category: percy sutton

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Magic Johnson takes on WBLS and Inner City Broadcasting Debt from Goldman Sachs

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The real loser in this deal may be Radio One, who may have just seen their opportunity to own a station or two in New York City, just go by the wayside (Radio-Info) Inner City Broadcasting’s debt will be changing hands, says TheDeal.com, so Goldman Sachs can finally take it off the books. Inner City’s controlling Sutton family played hardball during the 2009 financial crisis, when Goldman and GE Capital were squeezing ICBC over $230 million in debt. Politicians (reportedly included President Obama) got involved, and Goldman and GE backed off. (The Sutton family would consist of ICBC chairman Pierre … Continue reading Magic Johnson takes on WBLS and Inner City Broadcasting Debt from Goldman Sachs

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>Percy Sutton Dies at Age 89

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>There’s simply no way to put into a few words the magnitude of Percy Sutton’s impact in Harlem and around the world. To simply say he was the owner of WBLS, the premiere Black radio station in the country through the 70’s, 80’s and 90’s, or Malcolm X’s former lawyer, or a civil rights leader, would not justify the measure of this man… Here’s a column from Errol Louis of the New York Daily News that provides a fitting tribute to Mr. Sutton.As a mogul, politician, trailblazer, war hero, Percy Sutton was a man of ambitionby Columnist Errol Louis New … Continue reading >Percy Sutton Dies at Age 89

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>Black and Hispanic Broadcasters Meet with White House Officials for Bailout

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>Minority radio stations aren’t failing businesses begging for handouts; they’re healthy enterprises, beset by a perfect storm of bad circumstances, that are in need of a lifeline. At a time when millions of African-Americans and Latinos need information and opportunities to get jobs and build businesses, let’s not pull the plug on black and Hispanic radio. Pierre M. Sutton, (son of founder Percy Sutton, pictured here) the Chairman of Inner City Broadcasting, Inc. Holdings, owners of WBLS and WLIB New York, writes an opinion/editiorial piece, “Obama, throw a lifeline to black and Hispanic radio”, in the New York Daily News … Continue reading >Black and Hispanic Broadcasters Meet with White House Officials for Bailout