Deals
By BIA Financial Networks -- Broadcasting & Cable, 11/18/2007 7:00:00 PM
TV
WBTV TV/Charlotte, N.C.; WCSC TV/Charleston, S.C.; WWBT TV/Richmond, Va.
PRICE: $583 million
BUYER: Raycom Media (Paul McTear, president/CEO)
SELLER: Lincoln Financial Media (Terry Stone, president)
FACILITIES: WBTV: Ch. 3, 100 kW, ant. 1,775 ft.; WCSC: Ch. 5, 100 kW, ant. 1,955 ft.; WWBT: Ch. 12, 316 kW, ant. 791 ft.
AFFILIATION: WBTV: CBS; WCSC: CBS; WWBT: NBC
COMMENT: Price includes consideration for Lincoln's sports syndication business.
Radio
WBT-AM & WLNK-FM/Charlotte (Charlotte-Gastonia-Rock Hill), N.C.; WBT-FM/Chester (Charlotte-Gastonia-Rock Hill), S.C.
PRICE: $100 million
TERMS: Asset sale for cash
BUYER: Greater Media (Peter Smyth, president/CEO); owns 20 other stations, none in this market
SELLER: Lincoln Financial Media (Don Benson, president, radio division)
FACILITIES: WBT-AM: 1110 kHz, 50 kW day/night; WLNK-FM: 107.9 MHz, 100 kW, ant. 1,693 ft.; WBT-FM: 99.3 MHz, 8 kW, ant. 598 ft.
FORMAT: WBT-AM: News/Talk; WLNK-FM: Talk/AC; WBT-FM: News/Talk
WECK-AM/Cheektowaga (Buffalo-Niagara Falls), N.Y.
PRICE: $1.3 million
TERMS: Asset sale for cash
BUYER: Culver Communications (Richard Greene, president); owns one other station, WLVL-AM/Buffalo-Niagara Falls
SELLER: Regent Communications (William Stakelin, president/CEO)
FACILITIES: 1230 kHz, 1kw day/night
FORMAT: Country
BROKER: Dick Kozacko of Kozacko Media Services,and John Pierce of John Pierce & Co.
WTMM-AM/Rensselaer (Albany-Schenectady-Troy), N.Y.
PRICE: $850,000
TERMS: Asset sale for cash
BUYER: Capital Broadcasting (N.Y.), Paul Vandenburgh, president; owns no other stations
SELLER: Regent Communications (William Stakelin, president/CEO)
FACILITIES: 1300 kHz, 5 kW day/night
FORMAT: Talk
COMMENT: $850,000 payable in cash at closing, with a $45,000 escrow deposit. An LMA began Nov. 1.
WLTQ-AM/Charleston, S.C.
PRICE: $608,230
TERMS: Asset sale for note
BUYER: Indigo Radio (Mark Jorgenson, managing member); owns no other stations
SELLER: Clear Channel (John Hogan, CEO/radio)
FACILITIES: 730 kHz, 1 kW day/83 W night
FORMAT: Adult Standard
COMMENT: $608,230 promissory note.
KAYH-FM/Fayetteville, Ark.
PRICE: $450,000
TERMS: Asset sale for cash
BUYER: Bott Radio Network (Richard Bott Sr., owner); owns 31 other stations, including KOFC-AM/Fayetteville
SELLER: William and Martha Disney (Bryan Disney, owner)
FACILITIES: 89.3 MHz, 2 kW, ant. 630 ft.
FORMAT: Gospel
BROKER: Media Services Group
COMMENT: $450,000, payable in cash at closing.
KOFC-AM/Fayetteville, Ark.
PRICE: $450,000
TERMS: Asset sale for cash and note
BUYER: Bott Radio Network (Richard Bott Sr., owner); owns 31 other stations, including KAYH-FM/Fayetteville
SELLER: William and Martha Disney (Bryan Disney, owner)
FACILITIES: 1250 kHz, 920 W day/45 W night
FORMAT: Talk/Gospel
BROKER: Media Services Group
COMMENT: $150,000 payable in cash at closing, plus $300,000 promissory note.
WHOW-AM & WHOW-FM/Clinton, Ill.
PRICE: $400,000
TERMS: Asset sale for cash and note
BUYER: Kaskaskia Broadcasting (Randal Miller, president); owns one other station, none in this market
SELLER: WHOW Radio(William Brady, manager/member)
FACILITIES: WHOW-AM: 1520 kHz, 5 kW; WHOW-FM: 95.9 MHz, 6 kW, ant. 308 ft.
FORMAT: WHOW-AM: News/Talk; WHOW-FM: Sports
COMMENT: $300,000 cash at closing, including a $10,000 deposit, plus $100,000 promissory note.
KLSN-FM/Hudson (Lufkin-Nacogdoches), Texas
PRICE: $400,000
TERMS: Asset sale for cash and note
BUYER: The Turning Leaf (Vance Barbee, managing member); owns no otherstations
SELLER: Estate of Harold J. Haley (Peggy Sue Marsh, administrator)
FACILITIES: 96.3 MHz, 1 kW, ant. 696 ft.
FORMAT: Country/News
COMMENT: $25,000 escrow deposit, plus $25,000 cash at closing, plus $50,000 cash 90 days after closing, plus $300,000 promissory note.
Information provided by:
BIA Financial Networks' Media Access Pro, Chantilly, Va. www.bia.com 703-818-2425
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