Deals
By BIA Financial Networks -- Broadcasting & Cable, 4/7/2008 2:00:00 AM
TV
WMBB (TV)/Panama City, Fla.; KALB-TV/Alexandria, La.
PRICE: $60 million
BUYER: Hoak Media LLC (Eric Van den Branden, president)
SELLER: Media General Inc. (James Zimmerman, president/broadcast division)
FACILITIES: WMBB: Ch. 13, 316 kW, ant. 1,434 ft.; KALB: Ch. 5, 100 kW
AFFILIATION: WMBB: ABC; KALB: NBC
COMMENT: Payable in cash at closing; $3 million escrow deposit.
KTUU (TV)/Anchorage, K10NC/Kenai, K04DS/Kenai River, K09JE/Palmer, Alaska
PRICE: $26 million
BUYER: Schurz Communications (Franklin Schurz Jr., chairman)
SELLER: Zaser & Longston (Greg Zaser, president)
FACILITIES: KTUU(TV): Ch. 2, 100 kW, ant. 719 ft.; K10NC: Ch. 10, 0.128 kW; K04DS: Ch. 4, 0.039 kW; K09JE: Ch. 9, 0.058 kW
AFFILIATION: KTUU(TV): NBC; K10NC: NBC; K04DS: NBC; K09JE: NBC
COMMENT: Payable in cash at closing; $1.45 million escrow deposit.
WBKA-CA/Bucyrus, Ohio
PRICE: $220,000
BUYER: Studio 51 Multi-Media Productions (Andrew Russell, VP)
SELLER: Metro Video Productions (Gregory Phipps, president)
FACILITIES: Ch. 22, 23.5 kW, ant. 196 ft.
AFFILIATION: Ind.
COMMENT: $11K deposit; balance in cash at closing.
RADIO
KRBV-FM/Los Angeles, Calif.
PRICE: $137.5 million
TERMS: Asset sale for cash
BUYER: Bonneville International Corp. (Bruce Reese, president/CEO); owns 28 other stations, none in this market
SELLER: Radio One Inc. (Alfred Liggins, president/CEO/COO)
FACILITIES: 100.3 MHz, 5 kW, ant. 3,005 ft.
FORMAT: Urban AC
BROKER: Star Media Group
COMMENT: Payable in cash at closing; $11 million escrow deposit.
KSTN-AM & KSTN-FM/Stockton, Calif.
PRICE: $24.25 million
TERMS: Stock sale
BUYER: Independence Media Holdings LLC (David Jacobs, president/CEO); owns seven other stations, none in this market
SELLER: San Joaquin Broadcasting (Robert LaRue, president)
FACILITIES: KSTN-AM: 1420 kHz, 5 kW day/1 kW night; KSTN-FM: 107.3 MHz, 8 kW, ant. 1,611 ft.
FORMAT: KSTN-AM: Oldies; KSTN-FM: Mexican
BROKER: Greg Guy of Patrick Communications
KFDN-FM/Lakewood (Denver-Boulder), Colo.
PRICE: $8.2 million
TERMS: Assignment and assumption
BUYER: Public Radio Capital (Marc Hand, president/managing director); owns two other stations, none in this market
SELLER: Educational Media Foundation (Mike Novak, president)
FACILITIES: 88.1 MHz, 1 kW, ant. 1,053 ft.
FORMAT: Christian Contemporary
BROKER: Marc Hand of Public Radio Capital and Chuck Lontine of Marconi Media Ventures
COMMENT: Public Broadcasting of Colorado is assigning its right to purchase KFDN-FM from Educational Media Foundation (EMF) to Public Radio Capital, which will assume the $8.2 million purchase price payable to EMF.
WUFE-AM & WBYZ-FM/Baxley, Ga.
PRICE: $4 million
TERMS: Asset sale for cash
BUYER: Go Media Group LLC (Hubert Grizzle, managing member); owns six other stations, none in this market
SELLER: South Georgia Broadcasters (Al Graham, president)
FACILITIES: WUFE-AM:1260 kHz, 5 kW; WBYZ-FM: 94.5 MHz, 100 kW, ant. 1,014 ft.
FORMAT: WUFE-AM: Gospel; WBYZ-FM: Country
BROKER: The Thorburn Co.
COMMENT: Payable in cash at closing; $25K escrow deposit.
WBTQ-FM/Buckhannon (Elkins-Buckhannon-Weston), W. Va.
PRICE: $1.25 million
TERMS: Asset sale for cash
BUYER: West Virginia Radio Corp. (Dale Miller, president); owns 16 other stations, including WDNE-AM & FM and WELK-FM/Elkins-Buckhannon-Weston
SELLER: Elkins Radio Corp. (Richard McGraw, president)
FACILITIES: 93.5 MHz, 16 kW, ant. 417 ft.
FORMAT: Hot AC
WELK-FM/Elkins (Elkins-Buckhannon-Weston), W. Va.
PRICE: $1.05 million
TERMS: Asset sale for cash
BUYER: West Virginia Radio Corp. (Dale Miller, president); owns 16 other stations, including WDNE-AM & FM and WBTQ-FM/Elkins-Buckhannon-Weston
SELLER: Elkins Radio Corp. (Richard McGraw, president)
FACILITIES: 94.7 MHz, 5 kW, ant. 728 ft.
FORMAT: Oldies
Information provided by:
BIA Financial Networks' Media Access Pro
Chantilly, Va. www.bia.com 703-818-2425
