Deals
By BIA Financial Networks -- Broadcasting & Cable, 8/26/2007 8:00:00 PM
TV
WPXL (TV)/New Orleans, La.
PRICE: $18 million
BUYER: ION Media Networks Inc (Brandon Burgess, CEO)
SELLER: Flinn Broadcasting Corporation (George Flinn, Jr, president/owner)
FACILITIES: Ch. 49, 5,000 kW, ant. 945 ft.
AFFILIATION: Ion
BROKER: Media Services Group
WPXX-TV/Memphis, Tenn.
PRICE: $18 million
BUYER: ION Media Networks Inc (Brandon Burgess, CEO)
SELLER: Flinn Broadcasting Corporation (George Flinn, Jr, president/owner)
FACILITIES: Ch. 50, 1,320 kW, ant. 1,034 ft.
AFFILIATION: MNT
WMDN (TV)/Meridian, Miss.
PRICE: $5.8 million
BUYER: Meridian Media LLC (Sharlyn Threadgill, manager/member)
SELLER: Spain Family (Mary Jane Spain, owner)
FACILITIES: Ch. 24, 724 kW, ant. 610 ft.
AFFILIATION: CBS
BROKER: Jack Higgins
COMMENT: Spain Family's WMDN Inc's WMDN (TV)/Meridian, Miss., to Meridian Media for $5.8 million, payable in cash at closing. $290K escrow deposit.
WGBC (TV)/Meridian, Miss.
PRICE: $700,000
BUYER: WGBC-TV LLC (Michael Reed, president)
SELLER: Robert M. Ledbetter Enterprises LLC (Robert Ledbetter, Jr., managing director)
FACILITIES: Ch. 30, 1,580 kW, ant. 614 ft.
AFFILIATION: NBC
BROKER: Jack Higgins
COMMENT: Robert M Ledbetter Enterprises' WGBC (TV)/Meridian, MS to WGBC-TV LLC for $700K, payable in cash at closing. $35K escrow deposit.
RADIO
WPRZ-AM/Warrenton, Va.
PRICE: $1.1 million
TERMS: Asset sale for cash
BUYER: Metro Radio Inc (David Houston, VP); owns two other stations, including WKCW-AM/Warrenton, VA
SELLER: Praise Communications Inc (Steve Buchanan, president)
FACILITIES: 1250 kHz, 8 kW day/125 W night
FORMAT: Christian
COMMENT: Consisting of an escrow deposit of $55K and the balance in cash at closing. The call sign WPRZ is an excluded asset.
WLRX-FM/Charlestown (Louisville), Ind.
PRICE: $1 million
TERMS: Asset sale for cash
BUYER: WAY-FM Media Group Inc (Robert Augsburg, president); owns 12 other stations, none in this market
SELLER: Radio One Inc (Alfred Liggins, president/CEO/COO)
FACILITIES: 104.3 MHz, 3 kW, ant. 328 ft.
FORMAT: New Rock
BROKER: Patrick Communications and Star Media Group Inc.
COMMENT: Consisting of a cash deposit in the amount of $60K and the balance in cash at closing.
WBE-AM/Beatrice, Neb.; KLIN-AM, KBBK-FM & KLNC-FM/Lincoln, Neb.; KFGE-FM/Milford (Lincoln), Neb.
PRICE: Undisclosed
TERMS: Terms unavailable
BUYER: NRG Media LLC (Mary Quass, president/CEO); owns 44 other stations, none in this market
SELLER: Triad Broadcasting Company (David Benjamin, president/CEO)
FACILITIES: KWBE-AM: 1450 kHz, 530 W day/night; KLIN-AM: 1400 kHz, 1 kW day/night; KBBK-FM: 107.3 MHz, 100 kW, ant. 551 ft.; KLNC-FM: 105.3 MHz, 3 kW, ant. 453 ft.; KFGE-FM: 98.1 MHz, 100 kW, ant. 981 ft.
FORMAT: KWBE-AM: Nws/Inf/AC; KLIN-AM: Nws/Tlk/Spt; KBBK-FM: Hot AC; KLNC-FM: Oldies; KFGE-FM: Country
BROKER: Frank Higney of Kalil & Co., Inc.
KPET-AM/Lamesa, Tex.
PRICE: $290,000
TERMS: Asset sale for cash & note
BUYER: Dawson County Broadcasting LLC (Fred Morton, managing member); owns no other stations
SELLER: KPET Inc (Don Sitton, managing director)
FACILITIES: 690 kHz, 250 W day/night
FORMAT: Country
COMMENT: $14.5K escrow deposit plus $43.5K cash at closing plus $232K note.
WCSS-AM/Amsterdam (Albany-Schenectady-Troy), N.Y.
PRICE: Undisclosed
TERMS: Sale of stock
BUYER: IZ Communications (John Tesiero Jr., officer); owns no other stations
SELLER: IZ Communications (Joe Isabel, officer)
FACILITIES: 1490 kHz, 1 kW day/night
FORMAT: Adult Standard
COMMENT:Joe Isabel and other current shareholders of IZ Communications, licensee of WCSS-AM/Amsterdam, NY, are selling their shares to John Tesiero, Jr., for $550 per share for Joe Isabel's shares and $525 per share for the other shareholders' shares. After the sale, John Tesiero will own 76% of the company with Joe Isabel owning the remaining 24%.
| Station Sales Scorecard | ||||
|---|---|---|---|---|
| 2007 YTD* | 2006 | |||
| Number | Value (000) | Number | Value (000) | |
| Source: BIA Financial Networks *As of 8/21/07 |
||||
| Television | 231 | $2,756,185 | 180 | $18,127,686 |
| Radio | 1,326 | $2,761,077 | 2,109 | $22,853,808 |
Information provided by: BIA Financial Networks' Media Access Pro Chantilly, Va. www.bia.com 703-818-2425
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