Deals
By BIA Financial Networks -- Broadcasting & Cable, 9/9/2007 8:00:00 PM
TV
WBQM-LP (Brooklyn) & WMBQ-CA (Manhattan), N.Y.
PRICE:
$8 million
BUYER:
Equity Media Holdings Corp. (Larry Morton, president/CEO)
SELLER:
Renard Communication Corp. (Craig Fox, president)
FACILITIES: WBQM-LP: Ch. 3, 0.75 kW; WMBQ-CA: Ch. 46, 50 kW
AFFILIATION: WMBQ-CA: IND
COMMENT: Terms were $6 million cash at closing, plus $2 million promissory note.
KHIZ (TV)/Barstow, Calif.
PRICE:
$7.95 million
BUYER:
TVPlus LLC (Arthur Liu, president/CEO)
SELLER:
Initial Broadcasting of California LLC (Peter White, president/manager)
FACILITIES:
Ch. 64, 5,000 kW, ant. 1,568 ft.
AFFILIATION: IND
COMMENT: Total payment is estimated to be approximately $7.95 million, including repayment of IBC loan amounting to $900K.
WABG-TV/Greenwood, Miss.
PRICE:
$5.1 million
BUYER:
Commonwealth Broadcasting Group (Charles Harker, president)
SELLER:
Bahakel Communications Limited (Beverly Bahakel-Poston, executive VP)
FACILITIES:
Ch. 6, 100 kW, ant. 1,959 ft.
AFFILIATION: ABC
BROKER: Executive Media Services
KTBY (TV)/Anchorage & K09QH/Kenai, Alaska
PRICE:
$3.243 million
BUYER:
Coastal Television Broadcasting Company LLC (William Fielder III, president/CEO)
SELLER:
Piedmont Television (Paul Brissette, president/CEO)
FACILITIES: KTBY (TV): Ch. 4, 38.9 kW, ant. 180 ft.; K09QH: Ch. 9, 0.121 kW
AFFILIATION: KTBY (TV): FOX; K09QH: FOX
BROKER:
Wachovia Capital Markets LLC
COMMENT: Payable by redemption of all of the pledged units at an agreed upon value of $549,500, and the balance by cash.
RADIO
KSKZ-FM/Copeland, KKJQ-FM/Garden City, KBUF-AM/Holcomb, KFXX-FM/Hugoton, KSSA-FM/Ingalls, KWKR-FM/Leoti, KSKL-FM/Scott City and KULY-AM/Ulysses, Kan.
PRICE:
$9.5 million
TERMS:
Asset sale for cash
BUYER:
Armada Media Corporation (Terry Shockley, CEO); owns 28 other stations, none in this market
SELLER:
Estate of Ingstad, Robert E, headed by (Janice Ingstad, executrix)
FACILITIES:
KSKZ-FM: 98.1 MHz, 100 kW, ant. 666 ft.; KKJQ-FM: 97.3 MHz, 100 kW, ant. 801 ft.; KBUF-AM: 1030 kHz, 3 kW day/1 kW night; KFXX-FM: 106.7 MHz, 35 kW, ant. 259 ft.; KSSA-FM: 105.9 MHz, 100 kW, ant. 666 ft.; KWKR-FM: 99.9 MHz, 99 kW, ant. 397 ft.; KSKL-FM: 94.5 MHz, 100 kW, ant. 351 ft.; KULY-AM: 1420 kHz, 1 kW day/500 W night
FORMAT:
KSKZ-FM: Hot AC; KKJQ-FM: Country; KBUF-AM: Country; KFXX-FM: Mexican; KSSA-FM: Mexican; KWKR-FM: Clsc Rock; KSKL-FM: Oldies; KULY-AM: Country
BROKER: Jody McCoy of Media Services Group
COMMENT:
Payable as follows: $25K non-refundable payment upon execution of the asset purchase agreement, plus $9.475 million cash at closing (including $500K escrow deposit deliverable on or before 10/01/07).
KUVR-AM & KMTY-FM/Holdrege, KODY-AM & KXNP-FM/North Platte, Neb.
PRICE:
$4.5 million
TERMS:
Asset sale
BUYER:
Armada Media Corporation (Terry Shockley, CEO); owns 32 other stations, none in this market
SELLER:
NRG Media LLC (Mary Quass, president/CEO)
FACILITIES:
KUVR-AM: 1380 kHz, 500 W day/62 W night; KMTY-FM: 97.7 MHz, 55 kW, ant. 253 ft.; KODY-AM: 1240 kHz, 1 kW day/night; KXNP-FM: 103.5 MHz, 100 kW, ant. 479 ft.
FORMAT:
KUVR-AM: Soft AC; KMTY-FM: Oldies; KODY-AM: Nws/Tlk/Spt; KXNP-FM: Country
BROKER:
American Media Services LLC and Kalil & Co., Inc.
WIAC-FM/San Juan, P.R.
PRICE:
$4 million
TERMS:
Asset sale for note
BUYER:
George Reed; owns six other stations, none in this market
SELLER:
Luis Mejia
FACILITIES:
102.5 MHz, 50 kW, ant. 1,139 ft.
FORMAT:
Span/SftAC
WCLZ-FM/Brunswick (Portland), Me.
PRICE:
$3.5 million
TERMS:
Asset sale for cash
BUYER:
Saga Communications Inc (Edward Christian, president/CEO); owns 90 other stations, including WBAE-AM, WGAN-AM, WZAN-AM, WMGX-FM, WPOR-FM & WYNZ-FM/Portland
SELLER:
The Last Bastion Station Trust LLC (Elliot Evers, member)
FACILITIES:
98.9 MHz, 48 kW, ant. 400 ft.
FORMAT:
AAA
BROKER: Media Venture Partners
COMMENT:
Payable at closing for $3.5 million in cash; 10% escrow deposit.
Information provided by:
BIA Financial Networks' Media Access Pro
Chantilly, Va. www.bia.com 703-818-2425
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