Deals
By BIA Financial Networks -- Broadcasting & Cable, 8/12/2007 8:00:00 PM
TVS
WOIL-LP & W63CK/Talladega
PRICE: $140,000
BUYER: Sanctuary Broadcasting Company Inc (Freddie Edwards, president)
SELLER: Bowlin Broadcast Network Inc (Harvey Bowlin Sr, president)
FACILITIES: WOIL-LP: Ch. 47, 22.5 kW, ant. 1,118 ft.; W63CK: Ch. 63, 5.5 kW
AFFILIATION: WOIL-LP: IND
COMMENT: Sale of stock of Bowlin Broadcast Network, licensee of WOIL-LP & W63CK/Talladega, AL from Harvey Bowlin, Sr. to Sanctuary Broadcasting Co for $140K.
WGGB-TV/Springfield
PRICE: $21.15 million
BUYER: Gormally Broadcasting Inc (John Gormally, president)
SELLER: Sinclair Broadcast Group Inc (David Smith, president/CEO)
FACILITIES: Ch. 40, 4,270 kW, ant. 1,063 ft.
AFFILIATION: ABC
BROKER: Susan K. Patrick of Patrick Communications
COMMENT: Sinclair Broadcast Group's WGGB Licensee's WGGB-TV/Springfield, MA to Gormally Broadcasting for $21.15 million.
RADIO
KRMX-AM & KNKN-FM/Pueblo, Colo.
PRICE: $1.75 million
TERMS: Asset sale for cash
BUYER: United States CP LLC (W Philip Robinson, managing member); owns no other stations
SELLER: Metropolitan Radio Group (Mark Acker, president)
FACILITIES: KRMX-AM: 690 kHz, 250 W day/24 W night; KNKN-FM: 106.9 MHz, 28 kW, ant. 666 ft.
FORMAT: KRMX-AM: Mexican; KNKN-FM: Span/Varty
BROKER: Jody McCoy of Media Services Group and John Pierce of John Pierce & Company LLC
COMMENT: Metropolitan Radio Group's KRMX-AM & KNKN-FM/Pueblo, CO to United States CP for $1.75 million, payable in cash at closing. $50K escrow deposit.
WJNF-FM/Marianna, Fla.
PRICE: $210,000
TERMS: Asset sale for cash
BUYER: WAY-FM Media Group Inc (Robert Augsburg, president); owns 11 other stations, none in this market
SELLER: Marianna Educational Broadcasting Foundation Inc (Jack Hollis, president)
FACILITIES: 88.3 MHz, 25 kW, ant. 262 ft.
FORMAT: Christian
COMMENT: Marianna Educational Broadcasting Foundation's WJNF-FM/Marianna, FL to WAY-FM Media Group for $210K.
WQSA-FM/Unadilla (Macon), Ga.
PRICE: $350,000
TERMS: Asset sale for cash
BUYER: Georgia Eagle Broadcasting Inc (Cecil Staton, president/CEO); owns 13 other stations, including WNNG-AM, WQXZ-FM & WRPG-FM/Macon
SELLER: Toccoa Falls College (Dave Cornelius, exec vice president)
FACILITIES: 99.9 MHz, 6 kW, ant. 328 ft.
FORMAT: Talk
COMMENT: Toccoa Falls College's WQSA-FM/Unadilla, GA to Georgia Eagle Broadcasting for $350K, payable in cash at closing. $17,500 escrow deposit.
WRXS-FM/Ocean City (Salisbury-Ocean City), Md.
PRICE: $1.08 million
TERMS: Asset sale for cash
BUYER: Your Public Radio Corporation (Anthony Brandon, president); owns two other stations, none in this market
SELLER: Atlantic Radio Broadcasting LLC (Ronald Gillenardo, president)
FACILITIES: 106.9 MHz, 5 kW, ant. 384 ft.
FORMAT: Altve/Rock
BROKER: John Pierce of John Pierce & Company LLC and Spectrum Media LLC
COMMENT: Atlantic Radio Broadcasting's WRXS-FM/Ocean City, MD to Your Public Radio Corporation's WYPR License Holding for $1.075 million, payable in cash at closing. $50K escrow deposit. Portions of the purchase price will be paid directly to creditors.
WZKR-FM/Decatur (Meridian), Miss.
PRICE: $850,000
TERMS: Cash and/or assume liabilities
BUYER: Morning Star Media LLC (Ronald Harper, member/manager); owns no other stations
SELLER: Ponytail Broadcasting LLC (William Smith, member)
FACILITIES: 103.3 MHz, 5 kW, ant. 591 ft.
FORMAT: AC
COMMENT: Ponytail Broadcasting's WZKR-FM/Decatur, MS to Morning Star Media for $850K. Buyer will assume and obtain releases of Seller and of the personal guarantees of all the members of the sellers of a promissory note in favor of Kenneth R. Rainey, Sr. and Cheryl G. Rainey in the approximate amount of $282,743.77 as of June 1, 2007.
The total purchase price of $850K minus the balance due on this note, will be payable in cash at time of closing. If Buyer is unable to secure release by the Rainey's of Seller's from their obligations, then the total price of $850K shall be payable in cash at closing.
| Station Sales Scorecard | ||||
|---|---|---|---|---|
| 2007 YTD* | 2006 | |||
| Number | Value (000) | Number | Value (000) | |
| Source: BIA Financial Networks *As of 8/7/07 |
||||
| Television | 225 | $2,657,485,000 | 180 | $18,127,686,000 |
| Radio | 1,345 | $2,798,556,977 | 2,109 | $22,870,307,656 |
Information provided by:
BIA Financial Networks' Media Access Pro
Chantilly, Va. www.bia.com 703-818-2425
