Scott Savage is an accomplished and qualified professional with a strong understanding of the radio broadcasting industry along with the legal and regulatory environment surrounding it. Savage has a decade of experience managing trusteeships and court-appointed receiverships.
TRUSTEE
- Appointed by the FCC or a court to oversee radio stations
- Controls stations' assets and operations in accordance with the terms of a Trust Agreement
- Assesses radio stations' financial situation and implements an operating plan
- Submits reports regularly to the FCC or a court to keep the parties informed of the stations' progress
- Identifies a new owner and closes on the FCC license transfers
RECEIVER
- Creditors allege that a debtor is unable to repay their debts or manage their assets effectively
- Creditors petition a court to designate a Receiver to protect the debtor's assets and manage them for the benefit of the creditors
- Takes possession of debtor's property and assets in order to pay creditors and reduce debt
- Submits reports regularly to a court and keeps the parties informed of the stations' progress
- Identifies a new owner and closes on the FCC license transfers
EXPERIENCE
- Trustee for Luna Communications, LLC (2010-2012)
Senior Lender: Wells Fargo Capital Finance
- Receiver for Tama Broadcasting, Inc. (2008-2013)
Senior Lender: Fortress Investment Group