Deals
By BIA Financial Networks -- Broadcasting & Cable, 3/23/2008 8:00:00 PM
TV
WEZK-LP & WMAK (DT)/Knoxville, WJZC-LP/Sevierville, Tenn.
PRICE: $5.5 million
BUYER: Richland Reserve LLC (John Bray, president)
SELLER: South Central Communications Corp. (John Engelbrecht, chairman/president)
FACILITIES: WEZK-LP: Ch. 28, 5.9 kW, ant. 1,135 ft.; WMAK (DT): Ch. 7, 55 kW, ant. 1,253 ft.; WJZC-LP: Ch. 22, 6.3 kW, ant. 434 ft.
AFFILIATION: WEZK-LP: Ind.; WMAK (DT): Ind.; WJZC-LP: Ind.
BROKER: Doyle Hadden of Hadden & Assoc. Media Brokers
COMMENT: Payable in cash at closing; $100K escrow deposit.
K38HE/West Plains, Mo.
PRICE: $125,000
BUYER: Promised Land Ministries (Earl Duncan, president)
SELLER: Unity Broadcasting (Billy Lambert, general manager)
FACILITIES: Ch. 38, 30.1 kW
COMMENT: $75K cash plus $50K promissory note.
RADIO
WOKA-AM & WOKA-FM/Douglas, Ga.
PRICE: $4 million
TERMS: Asset sale for cash
BUYER: Go Media Group LLC (Hubert Grizzle, managing member); owns no other stations
SELLER: Coffee County Broadcasters (Jim Squires, CEO)
FACILITIES: WOKA-AM: 1310 kHz, 4 kW day/39 W night; WOKA-FM: 106.7 MHz, 100 kW, ant. 981 ft.
FORMAT: WOKA-AM: Gospel; WOKA-FM: Country
BROKER: The Thorburn Co.
COMMENT: Payable in cash at closing; $25K escrow deposit.
KSTC-AM/Sterling, Colo.
PRICE: $2.77 million
TERMS: Bankruptcy auction
BUYER: Arnold Broadcasting Co. (William Arnold, president); owns no other stations
SELLER: Track 1 Media of Sterling LLC (William Arnold, receiver)
FACILITIES: 1230 kHz, 1 kW day/night
FORMAT: Oldies
COMMENT: Total amount: $2,770,462.
WSRG-FM/Sturgeon Bay, Wis.
PRICE: $712,500
TERMS: Asset sale for cash
BUYER: Al Johnson Broadcasting LLC (Allen Johnson, managing member); owns no other stations
SELLER: Magnum Radio Group (David Magnum, president)
FACILITIES: 97.7 MHz, 2 kW, ant. 597 ft.
FORMAT: Hot AC/CHR
BROKER: Jerry Lousteau
COMMENT: $35,625 escrow deposit plus $676,875 cash at closing.
WWKN-FM (CP)/Morgantown, Ky.
PRICE: $250,000
TERMS: Asset sale for cash
BUYER: Commonwealth Broadcasting Corp. (Steve Newberry, president); owns 20 other stations, none in this market
SELLER: Independence Media Holdings LLC (David Jacobs, president/CEO)
FACILITIES: 99.1 MHz, 6 kW, ant. 184 ft.
FORMAT: CP-NOA
BROKER: Patrick Communications
COMMENT: Payable in cash at closing; $12,500 escrow deposit.
KWOF-FM/Hiawatha (Cedar Rapids) and KWOF-AM/Waterloo (Waterloo-Cedar Falls), Iowa
PRICE: $160,000
TERMS: Asset sale for cash
BUYER: Extreme GraceMedia (Chris Behmlander, president); owns no other stations
SELLER: Friendship Communications (Michael Facciani, president)
FACILITIES: KWOF-FM: 89.1 MHz, 6 kW, ant. 400 ft.; KWOF-AM: 850 kHz, 500 W
FORMAT: KWOF-FM: Christian Contemporary; KWOF-AM: Christian
COMMENT: Payable in cash at closing; $8K escrow deposit.
KSGR-FM/Portland (Corpus Christi), Texas
PRICE: $120,000
TERMS: Asset sale for cash
BUYER: Calvary Chapel of the Coastlands (Roger Carver, pres.); owns no other stations
SELLER: CSN International (Jeff Smith, president)
FACILITIES: 91.1 MHz, 25 kW, ant. 328 ft.
FORMAT: Religion
COMMENT: $50K deposit plus $70K cash at closing.
WTZQ-AM/Hendersonville, N.C.
PRICE: $111,230
TERMS: Stock sale
BUYER: Ardell and Remelle Sink (Ardell Sink, president/CEO); owns two other stations, none in this market
SELLER: Houston Broadcasting (Randy Houston, pres./director)
FACILITIES: 1600 kHz, 1 kW day/12 W night
FORMAT: Easy Listening
COMMENT: $40K plus $71,230 in payment for certain accounts payable.
WCYI-FM/Lewiston (Portland), Maine
PRICE: Undisclosed
TERMS: Terms unavailable
BUYER: Educational Media Foundation (Mike Novak, president); owns 208 other stations, none in this market
SELLER: The Last Bastion Station Trust LLC (Elliot Evers, CEO)
FACILITIES: 93.9 MHz, 28 kW, ant. 633 ft.
FORMAT: AAA
BROKER: Media Venture Partners
Information provided by:
BIA Financial Networks' Media Access Pro
Chantilly, Va. www.bia.com 703-818-2425
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