Deals
By BIA Financial Networks -- Broadcasting & Cable, 10/7/2007 8:00:00 PM
TV
KION-TV & KMUV-LP/Monterey, K44DN/Paso Robles, KKFX-CA/San Luis Obispo, KCOY-TV/Santa Maria, Calif.
PRICE: $41 million
BUYER: Cowles Publishing Co. (Betsy Cowles, chair of the board)
SELLER: Newport Television LLC (Sandy DiPasquale, president/CEO)
FACILITIES: KION-TV: Ch. 46, 1,350 kW, ant. 2,530 ft.; KMUV-LP: Ch. 23, 50 kW, ant. 2,335 ft.; K44DN: Ch. 44, 0.603 kW, ant. 59 ft.; KKFX-CA: Ch. 24, 2.03 kW, ant. 1,429 ft.; KCOY-TV: Ch. 12, 115 kW, ant. 1,939 ft.
AFFILIATION: KION-TV: CBS; KMUV-LP: TEL; K44DN: CBS; KKFX-CA: FOX; KCOY-TV: CBS
BROKER: Brian Cobb of CobbCorp LLC and Kalil & Co., Inc.
COMMENT: Payable in cash at closing. $3.15 million escrow deposit.
KPSE-LP/Palm Springs, Calif.
PRICE: $4.7 million
BUYER: Journal Broadcast Group Inc. (Douglas Kiel, vice chairman/CEO)
SELLER: Mirage Media LLC (William Jaeger, CEO)
FACILITIES: Ch. 50, 5.2 kW, ant. 584 ft.
AFFILIATION: My
BROKER: Kalil & Co., Inc.
COMMENT: $100K indemnity amount in escrow plus $800K digital escrow amount plus the balance, payable in cash at closing. The buyer expects to begin a LMA with the Seller effective 10/01/07.
WJEA-LP/Charleston, S.C.
PRICE: $325,000
BUYER: Charleston DTV LLC (John Salov, president)
SELLER: Namey, Charles S. (Charles Namey, owner)
FACILITIES: Ch. 12, 3 kW
AFFILIATION: TLF
BROKER: Hadden & Assoc.
COMMENT: Payable in cash at closing, plus the assumption of business lease; $16,250 escrow deposit.
RADIO
WMCU-FM/Miami (Miami-Ft. Lauderdale-Hollywood), Fla.
PRICE: $20 million
TERMS: Asset sale for cash
BUYER: American Public Media Group (William Kling, president); owns no other stations
SELLER: Trinity International Foundation Inc. (Paul Maurer, president)
FACILITIES: 89.7 MHz, 100 kW, ant. 1,014 ft.
FORMAT: AC/Chrst
BROKER: Public Radio Capital and Kalil & Co., Inc.
COMMENT: Payable in cash at closing; $1 million escrow deposit. The buyer plans to program the station with classical music.
KELG-AM/Manor, KOKE-AM/Pflugerville and KTXZ-AM/West Lake Hills (Austin), Texas
PRICE: $5.5 million
TERMS: Asset sale for cash
BUYER: Encino Broadcasting LLC (Jose Garcia, manager); owns no other stations
SELLER: Border Media Partners LLC (Jeffrey Hinson, president/CEO)
FACILITIES: KELG-AM: 1440 kHz, 800 W day/500 W night; KOKE-AM: 1600 kHz, 5 kW day/700 W night; KTXZ-AM: 1560 kHz, 3 kW day/night
FORMAT: KELG-AM: Span/Chrst; KOKE-AM: Talk; KTXZ-AM: Span/Oldies
BROKER: Patrick McNamara of American Media Services LLC
COMMENT: $500K escrow deposit plus the balance, payable in cash at closing.
KMOR-FM/Bridgeport, KOZY-FM/Gering, KOLT-AM/Scottsbluff and KOAQ-AM/Terrytown, Neb.
PRICE: $1.78 million
TERMS: Asset sale for cash
BUYER: Legacy Communications LLC (Joseph Vavricek, managing member); owns six other stations, none in this market
SELLER: Tracy Broadcasting Corp (Michael Tracy, president)
FACILITIES: KMOR-FM: 101.3 MHz, 100 kW, ant. 1,112 ft.; KOZY-FM: 93.3 MHz, 100 kW, ant. 1,020 ft.; KOLT-AM: 1320 kHz, 5 kW day/1 kW night; KOAQ-AM: 690 kHz, 1 kW day/65 W night
FORMAT: KMOR-FM: Clsc Rock; KOZY-FM: Soft Rock; KOLT-AM: Talk; KOAQ-AM: Oldies
BROKER: Jody McCoy of Media Services Group
COMMENT: Of the purchase price, $355,612 is being allocated to real property; $88,750 escrow deposit, plus balance due in cash at closing. An LMA commenced 09/01/07.
WSAL-AM & WLHM-FM/Logansport, Ind.
PRICE: $1.1 million
TERMS: Asset sale for cash
BUYER: Mid-America Radio Group (David Keister, president); owns 17 other stations, none in this market
SELLER: Logansport Radio Corp. (John Jenkins, president)
FACILITIES: WSAL-AM: 1230 kHz, 1 kW day/night; WLHM-FM: 102.3 MHz, 3 kW, ant. 299 ft.
FORMAT: WSAL-AM: Tlk/LtA/FSv; WLHM-FM: Adult Hits
BROKER: Ed Henson of Henson Media
WNRR-AM/Augusta, Ga.
PRICE: $650,000
TERMS: Asset sale for note
BUYER: Will Nunley Broadcasting LLC (Will Nunley, president); owns no other stations
SELLER: Eastern Broadcasting Group Inc. (Michael Sbuttoni, president)
FACILITIES: 1230 kHz, 1 kW day/night
FORMAT: Nws/Tlk/Spt
BROKER: John Willis of Satterfield & Perry
Information provided by: BIA Financial Networks' Media Access Pro Chantilly, Va. www.bia.com 703-818-2425
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