Deals
By BIA Financial Networks -- Broadcasting & Cable, 6/8/2008 8:00:00 PM
TV
WETV-LP/Murfreesboro, Tenn.
PRICE: No consideration
BUYER: Channel Eleven Inc. (S. Bart Walker, president)
SELLER: Channel Eleven Inc. (William Barry, president)
FACILITIES: Ch. 11, 3 kW, ant. 151 ft.
AFFILIATION: Ind.
COMMENT: Transfer of 66.6% of the stock of Channel Eleven Inc. from William Barry to S. Bart Walker, making Walker 100% owner of the company.
RADIO
WAAO-FM/Andalusia, Ala.
PRICE: $1.25 million
TERMS: Asset sale for cash and note
BUYER: Three Notch Communications (Blaine Wilson, member); owns no other stations
SELLER: Companion Broadcasting Service (Lee Williams, president)
FACILITIES: 103.7 MHz, 3 kW, ant. 328 ft.
FORMAT: Country
COMMENT: $145K cash at closing, plus promissory notes for the balance.
WNST-AM/Towson (Baltimore), Md.
PRICE: $1 million
TERMS: Sale of stock
BUYER: Nasty 1570 Sports (Nestor Aparicio, managing member); owns no other stations
SELLER: Nasty 1570 Sports (Charles Baum, managing member)
FACILITIES: 1570 kHz, 5 kW day/237 W night
FORMAT: Sports
COMMENT: Jimandi LLC is selling its 50.25% interest in Nasty 1570 Sports to WNST Sports Media, for cash.
KHTZ-FM/Caldwell (Bryan-College Station), Texas
PRICE: $875,000
TERMS: Asset sale for cash
BUYER: Brazos Valley Communications (Tommy Vascocu, partner); owns four other stations, including KTAM-AM, KBXT-FM, KJXJ-FM & KORA-FM/Bryan-College Station
SELLER: Roy E. Henderson
FACILITIES: 107.3 MHz, 6 kW, ant. 328 ft.
FORMAT: Country
COMMENT: Payable in cash at closing, plus $150K additional future payment upon station upgrade; $25K letter of credit as good-faith escrow.
WRMN-AM/Elgin (Chicago), Ill.
PRICE: $712,500
TERMS: Asset sale for cash and note
BUYER: Fox Valley Broadcasting (Richard Jakle, president); owns no other stations
SELLER: Elgin Broadcasting (Richard Jakle, president)
FACILITIES: 1410 kHz, 1 kW day/1 kW night
FORMAT: News/Talk
COMMENT: $50K escrow deposit plus $128,125 cash at closing, plus the balance by promissory note.
WGHC-AM/Mount Holly (Charlotte-Gastonia-Rock Hill), N.C.
PRICE: $500,000
TERMS: Cash plus charitable contribution
BUYER: Family First (Linda de Romanett, president); owns one other station, none in this market
SELLER: Georgia-Carolina Radiocasting (Art Sutton, president/CEO)
FACILITIES: 870 kHz, 5 kW
FORMAT: News/Talk
BROKER: Griffin Media Brokers
COMMENT: Payable in cash at closing; $25K escrow deposit. Seller intends to contribute to Buyer all fair market value above the purchase price.
KKWY-FM/Superior, Wyo.
PRICE: $400,000
TERMS: Asset sale for cash
BUYER: Big Thicket Broadcasting (Bill Luzmoor, president); owns three other stations, none in this market
SELLER: College Creek Media (Neal Robinson, president)
FACILITIES: 106.5 MHz, 7 kW, ant. 1,581 ft.
FORMAT: Variety
BROKER: LB & Associates
COMMENT: Payable in cash at closing; $20K escrow deposit.
WSME-AM/Camp Lejeune (Greenville-New Bern-Jacksonville), N.C.
PRICE: $240,200
TERMS: Asset sale, cash and note
BUYER: AM Radio Subsidiary LLC (Ashley Moseley, manager); owns no other stations
SELLER: CTC Media Group (Michael Afflerbach, VP)
FACILITIES: 1120 kHz, 6 kW
FORMAT: Country/Bluegrass
COMMENT: $30K cash at closing plus $210,200 note.
WJLE-AM & WJLE-FM/Smithville, Tenn.
PRICE: $200,000
TERMS: Stock sale for cash
BUYER: Center Hill Broadcasting (Leon Stribling, owner); owns no other stations
SELLER: Center Hill Broadcasting (W.E. Vanatta, co-owner)
FACILITIES: WJLE-AM: 1480 kHz, 1 kW day/34 W night; WJLE-FM: 101.7 MHz, 4 kW, ant. 194 ft.
FORMAT: Country/Gospel
COMMENT: Sale of 50% of stock of Center Hill Broadcasting by W.E. Vanatta to Leon Stribling, making Stribling 100% owner.
WHEO-AM/Stuart, Va.
PRICE: $150,000
TERMS: Asset sale for cash
BUYER: Patrick County Communications (Harold Goad, co-manager); owns no other stations
SELLER: Mountain View Communications (Jamie Clark, president)
FACILITIES: 1270 kHz, 5 kW
FORMAT: Country
Information provided by:
BIA Financial Networks' Media Access Pro Chantilly, Va. www.bia.com 703-818-2425
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