Deals
By BIA Financial Networks -- Broadcasting & Cable, 7/27/2008 8:00:00 PM
TV
WTVF (TV)/Nashville, Tenn.
PRICE: $209 million
BUYER: Bonten Media Group LLC (Randall Bongarten, president/CEO)
SELLER: Landmark Communications (Decker Anstrom, president, broadcast)
FACILITIES: Ch. 5, 100 kW, ant. 1,394 ft.
AFFILIATION: CBS
BROKER: Lehman Brothers
KPJR-DT/Greeley, Colo.
PRICE: $37.5 million
BUYER: Trinity Broadcasting Network (Paul Crouch, president)
SELLER: Richland Reserve LLC (John Bray, president)
FACILITIES: DTV Ch. 38, 1,000 kW, ant. 1,188 ft.
COMMENT: Payable in cash at closing; $3.75 million escrow deposit.
W59EF/Quincy, Ill.; K11WI/Denison, K49KP/Lubbock and K42IP/Refugio, Texas
PRICE: $20,000
BUYER: Hispanic Christian Community Network (Antonio Cesar Guel, president)
SELLER: Estate of John R. Powley (Caroline Smith, executrix)
FACILITIES: W59EF: Ch. 59, 5 kW; K11WI: Ch. 11, 0.5 kW; K49KP: Ch. 49, 20 kW; K42IP: Ch. 42, 5 kW
COMMENT: $20K promissory note.
RADIO
WKXB-FM/Burgaw, WLGD-FM/Jacksonville, WSFM-FM/Oak Island, WAZO-FM/Southport, WMFD-AM & WILT-FM/Wilmington, N.C.
PRICE: $12 million
TERMS: Asset sale for cash
BUYER: Capitol Broadcasting (James Goodmon, president/CEO); owns two other stations, none in this market
SELLER: NextMedia Group (Steven Dinetz, president/CEO)
FACILITIES: WKXB-FM: 99.9 MHz, 100 kW, ant. 774 ft.; WLGD-FM: 98.7 MHz, 100 kW, ant. 974 ft.; WSFM-FM: 98.3 MHz, 19 kW, ant. 381 ft.; WAZO-FM: 107.5 MHz, 32 kW, ant. 594 ft.; WMFD-AM: 630 kHz, 800 W day/1 kW night; WILT-FM: 104.5 MHz, 3 kW, ant. 449 ft.
FORMAT: WKXB-FM: Rhythmic; WLGD-FM: Mexican; WSFM-FM: Modern Rock; WAZO-FM: Chr.; WMFD-AM: Sports/Talk; WILT-FM: Adult Hits
BROKER: Media Venture Partners
COMMENT: Payable in cash at closing; $600K escrow deposit.
WWJK-FM/Jackson, Miss.
PRICE: $3.8 million
TERMS: Asset sale for cash
BUYER: New South Radio (Clay Holladay, president); owns four other stations, including WIIN-AM, WJKK-FM, WUSJ-FM & WYOY-FM/Jackson
SELLER: Backyard Broadcasting (Barry Drake, president/CEO)
FACILITIES: 94.7 MHz, 100 kW, ant. 1,116 ft.
FORMAT: Jack
BROKER: Kalil & Co., Inc.
COMMENT: Payable in cash at closing; $380K escrow deposit.
WLMD-FM/Bushnell, WLRB-AM & WKAI-FM/Macomb, Ill.
PRICE: $1 million
TERMS: Cash, loan and note
BUYER: Nancy Foster; owns two other stations, none in this market
SELLER: WPW Broadcasting (Don Davis, president/CEO)
FACILITIES: WLMD-FM: 104.7 MHz, 3 kW, ant. 377 ft.; WLRB-AM: 1510 kHz, 1 kW; WKAI-FM: 100.1 MHz, 25 kW, ant. 282 ft.
FORMAT: WLMD-FM: Country; WLRB-AM: Adult Standard; WKAI-FM: Hot AC/Chr.
BROKER: American Comms Partners
COMMENT: $50K escrow deposit, plus $50K cash at closing, plus $500K loan agreement between Buyer and Citizens National Bank, plus $400K promissory note.
WCRM-AM/Fort Myers (Fort Myers-Naples-Marco Island), Fla.
PRICE: $950,000
TERMS: Asset sale
BUYER: Christ Center International (Mario Garcia, president); owns no other stations
SELLER: Manna Christian Mission (Peter Quinn, president)
FACILITIES: 1350 kHz, 2 kW day/150 W night
FORMAT: Spanish/CCt/Var
BROKER: Roger Rafson of CMS Station Brokerage
COMMENT: $25K escrow deposit, plus $75K cash at closing, plus $850K promissory note.
WNCM-FM(CP)/Garysburg, N.C.
PRICE: $825,000
TERMS: Asset sale for cash
BUYER: Capitol Broadcasting (James Goodmon, president/CEO); owns one other station, none in this market
SELLER: Joyner Radio (Thomas Joyner, president/secretary)
FACILITIES: 103.1 MHz, 6 kW, ant. 317 ft.
FORMAT: CP-NOA
COMMENT: $41,250 escrow deposit.
KHOM-FM/Salem, Ark; KBMV-FM/Birch Tree, Mo.
PRICE: $814,000
TERMS: Cash plus note
BUYER: Three Rivers Communications (Paul Coates, president); owns no other stations
SELLER: Mountain Lakes Broadcasting Corp. (Charles Earls, CEO/director)
FACILITIES: KHOM-FM: 100.9 MHz, 50 kW, ant. 492 ft.; KBMV-FM: 107.1 MHz, 25 kW, ant. 328 ft.
FORMAT: KHOM-FM: Country; KBMV-FM: Hot AC
COMMENT: $5K escrow deposit; $609K cash at closing; $200K promissory note.
Information provided by:
BIA Financial Networks' Media Access Pro Chantilly, Va. www.bia.com 703-818-2425
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