Deals
By BIA Financial Networks -- Broadcasting & Cable, 1/7/2007 7:00:00 PM
TVs
KFTY(TV) Santa Rosa (San Francisco-Oakland-San Jose), Calif.; WKRC(TV) Cincinnati; KVOS(TV) Bellingham (Seattle-Tacoma), wash.
Note: Station list includes only those in the top three markets where Clear Channel owns stations.
PRICE: $1.4 billion
BUYER: Clear Channel (Donald Perry, president, TV division)
SELLER: Clear Channel Communications (Donald Perry, president, TV division)
FACILITIES: KFTY(TV): Ch. 50, 302 kW, ant. 3,081 ft.; WKRC(TV): Ch. 12, 316 kW, ant. 1,001 ft.; KVOS(TV): Ch. 12, 234 kW, ant. 2,369 ft.
AFFILIATION: KFTY(TV): Ind.; WKRC(TV): CBS; KVOS(TV): Ind.
COMMENT: Merger and privatization of Clear Channel Communications Inc. Surviving corporation will continue as Clear Channel Communications Inc. under control of BT Triple Crown Merger Co. Inc. Including assumption or repayment of about $8 billion of net debt, estimated total value of the deal is about $26.7 billion. BIA estimates $1.4 billion of that is for the television assets.
WPXO(LP) East Orange, N.J.
PRICE: $10 million
BUYER: CaribeVision Station Group LLC (Carlos Barba, CEO)
SELLER: Ion Media Networks Inc. (Brandon Burgess, CEO)
FACILITIES: Ch. 34, 50 kW, ant. 1,181 ft.
AFFILIATION: i
BROKER: Media Services Group and Kalil and Co. Inc.
WSTY(LP) Hammond, La.
PRICE: $585,000
BUYER: Ponchartrain Investors LLC (Daniel Duggan, manager)
SELLER: Veritas Broadcasting Group LLC (J.D. Perry, president/member)
FACILITIES: Ch. 23, 24.3 kW, ant. 527 ft.
AFFILIATION: Ind.
COMMENT: Veritas acquired WSTY from Ponchartrain Investors in 2005 and still has a $585,000 balance due under that sale. Price for the acquired assets will be cancellation of that debt by Ponchartrain Investors.
WNHX(LP) New Haven, Conn.
PRICE: $500,000
BUYER: Area 51 DMG Inc. (Allen Christopher, president)
SELLER: IT Communications Inc. (Allen Christopher, president)
FACILITIES: Ch. 51, 100 kW, ant. 484 ft.
AFFILIATION: Ind.
COMMENT: At closing, seller will receive a 5% equity interest in buyer with the issue of 1.1 million shares of common stock valued at $0.002 per share.
Combos
KAVL(AM) Lancaster (Los Angeles), KFI(AM), KLAC(AM), KTLK(AM), KBIG(FM), KHHT(FM), KIIS(FM), KOST(FM) and KYSR(FM) Los Angeles, KVVS(FM) Mojave (Los Angeles), calif.; WVON(AM) Berwyn, WGRB(AM), WGCI(FM), WKSC(FM), WLIT(FM) and WNUA(FM) Chicago, WVAZ(FM) Oak Park (Chicago), Ill.; WHTZ(FM) Newark (New York), N.J.; WKTU(FM) Lake Success (New York), WAXQ(FM), WLTW(FM) and WWPR(FM) New York, N.Y.
Note: Station list includes only those in the top three markets where Clear Channel owns stations.
PRICE: $16.653 billion
BUYER: Clear Channel (John Hogan, CEO, radio); owns no other stations
SELLER: Clear Channel Communications (John Hogan, CEO, radio)
FACILITIES: KAVL(AM): 610 kHz, 5 kW day/4 kW night; KFI(AM): 640 kHz, 50 kW day/night; KLAC(AM): 570 kHz, 5 kW; KTLK(AM): 1150 kHz, 50 kW day/44 kW night; KBIG(FM): 104.3 MHz, 65 kW, ant. 3,045 ft.; KHHT(FM): 92.3 MHz, 43 kW, ant. 2,910 ft.; KIIS(FM): 102.7 MHz, 8 kW, ant. 2,959 ft.; KOST(FM): 103.5 MHz, 13 kW, ant. 3,114 ft.; KYSR(FM): 98.7 MHz, 75 kW, ant. 1,181 ft.; KVVS(FM): 97.7 MHz, 3 kW, ant. 299 ft.; WVON(AM): 1690 kHz, 10 kW day/1 kW night; WGRB(AM): 1390 kHz, 5 kW; WGCI(FM): 107.5 MHz, 4 kW, ant. 1,549 ft.; WKSC(FM): 103.5 MHz, 4 kW, ant. 1,549 ft.; WLIT(FM): 93.9 MHz, 4 kW, ant. 1,581 ft.; WNUA(FM): 95.5 MHz, 8 kW, ant. 1,175 ft.; WVAZ(FM): 102.7 MHz, 6 kW, ant. 1,171 ft.; WHTZ(FM): 100.3 MHz, 6 kW, ant. 1,362 ft.; WKTU(FM): 103.5 MHz, 6 kW, ant. 1,362 ft.; WAXQ(FM): 104.3 MHz, 6 kW, ant. 1,362 ft.; WLTW(FM): 106.7 MHz, 6 kW, ant. 1,362 ft.; WWPR(FM): 105.1 MHz, 6 kW, ant. 1,362 ft.
FORMAT: KAVL(AM): Sports/Talk; KFI(AM): News/Talk; KLAC(AM): Sports; KTLK(AM): Talk; KBIG(FM): AC; KHHT(FM): Urban/R&B; KIIS(FM): Top 40; KOST(FM): AC; KYSR(FM): Modern AC; KVVS(FM): Top 40; WVON(AM): Talk; WGRB(AM): Black Gospel; WGCI(FM): Urban; WKSC(FM): CHR; WLIT(FM): AC; WNUA(FM): Smooth Jazz; WVAZ(FM): Urban AC; WHTZ(FM): CHR; WKTU(FM): CHR/Rhythmic; WAXQ(FM): Classic Rock; WLTW(FM): Lite AC; WWPR(FM): Urban
COMMENT: Merger and privatization of Clear Channel Communications Inc. Surviving corporation will continue as Clear Channel Communications Inc. under control of BT Triple Crown Merger Co. Inc. Including assumption or repayment of about $8 billion of net debt, estimated total value of the deal is about $26.7 billion. BIA estimates $16.653 billion of that is for the radio assets.
KIGN(FM) Burns (Cheyenne), KKTL(AM), KTWO(AM), KMGW(FM), KTRS(FM) and KWYY(FM) Casper, KLEN(FM) Cheyenne, KOWB(AM) and KCGY(FM) Laramie (Cheyenne), KRVK(FM) Midwest (Casper) and KGAB(AM) Orchard Valley (Cheyenne), Wyo.
PRICE: $16.5 million
BUYER: Blue Point Media LLC (Christopher Devine, sole member); owns no other stations
SELLER: Clear Channel Communications (John Hogan, CEO, radio)
FACILITIES: KIGN(FM): 101.9 MHz, 50 kW, ant. 492 ft.; KKTL(AM): 1400 kHz, 1 kW; KTWO(AM): 1030 kHz, 50 kW; KMGW(FM): 96.7 MHz, 3 kW, ant. 1,772 ft.; KTRS(FM): 104.7 MHz, 18 kW, ant. 1,818 ft.; KWYY(FM): 95.5 MHz, 100 kW, ant. 1,939 ft.; KLEN(FM): 106.3 MHz, 6 kW, ant. 325 ft.; KOWB(AM): 1290 kHz, 5 kW day/1 kW night; KCGY(FM): 95.1 MHz, 100 kW, ant. 1,001 ft.; KRVK(FM): 107.9 MHz, 100 kW, ant. 1,949 ft.; KGAB(AM): 650 kHz, 9 kW day/500 W night
FORMAT: KIGN(FM): Rock; KKTL(AM): Talk; KTWO(AM): Talk/Sports; KMGW(FM): Mix AC; KTRS(FM): Top 40; KWYY(FM): Country; KLEN(FM): Soft AC; KOWB(AM): News/Talk/Sports; KCGY(FM): Country; KRVK(FM): Classic Hits; KGAB(AM): News/Talk
BROKER: Media Services Group
FMs
KZSR(FM) Onawa and KKYY(FM) Whiting (Sioux City), Iowa
PRICE: $4.2 million
BUYER: Powell Broadcasting Co. Inc. (Nanette Noland, president); owns four other stations, including KSCJ(AM), KKMA(FM) and KSUX(FM) Sioux City
SELLER: NRG Media LLC (Mary Quass, president/CEO)
FACILITIES: KZSR(FM): 102.3 MHz, 100 kW, ant. 643 ft.; KKYY(FM): 101.3 MHz, 50 kW, ant. 492 ft.
FORMAT: KZSR(FM): Adult Hits; KKYY(FM): Country
BROKER: Kalil and Co. Inc.
KCKR(FM)(CP) Kaplan (Lafayette), La.
PRICE: $3.6 million
BUYER: Family Worship Center Church Inc. (Jimmy Swaggart, president/director); owns 20 other stations, none in this market
SELLER: Apex Broadcasting Inc. (SC) (Dean Pearce, president)
FACILITIES: 91.9 MHz, 13 kW, ant. 142 ft.
FORMAT: CP–NOA
COMMENT: Buyer will furnish Pearce with documentation of a $3 million contribution to the buyer's non-profit ministries.
AMs
KBET(AM) Winchester (Las Vegas), Nev.
PRICE: $2.5 million
BUYER: Beasley Broadcast Group (George Beasley, chairman/CEO); owns 44 other stations, including KDWN(AM), KCYE(FM), KKLZ(FM) and KSTJ(FM) Las Vegas
SELLER: Legacy Communications Corp. (Morgan Skinner Jr., president/CEO)
FACILITIES: 790 kHz, 1 kW day/300 W night
FORMAT: Adult Standard
BROKER: John Pierce of John Pierce and Co. LLC
| Station Sales Scorecard | ||||
|---|---|---|---|---|
| Source: BIA Financial Networks *As of 1/2/07 |
||||
| Number | Value (000) | Number | Value (000) | |
| Television | 181 | $18,142,386 | 84 | $2,662,439 |
| Radio | 2,141 | $22,885,862 | 883 | $2,818,868 |
Information provided by: BIA Financial Networks' Media Access Pro Chantilly, Va. www.bia.com 703-818-2425
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