Deals
By BIA Financial Networks -- Broadcasting & Cable, 8/10/2008 8:00:00 PM
TV
KZTV (TV)/Corpus Christi, Texas
PRICE: $20 million
BUYER: SagamoreHill Broadcasting (Louis Wall, president/CEO)
SELLER: Eagle Creek Broadcasting LLC (Brian Brady, president)
FACILITIES: Ch. 10, 316 kW, ant. 951 ft.
AFFILIATION: CBS
COMMENT: FCC licenses to SagamoreHill; non-license assets to Evening Post Publishing. $5 million payable in cash at closing for licenses; $100K escrow deposit.
K42AA/Pahrump, Nev.
PRICE: $1
BUYER: Journal Broadcast Group (Douglas Kiel, vice chairman/CEO)
SELLER: Crown Castle Nevada LLC (Mark Schrott, VP-property management)
FACILITIES: Ch. 42, 0.284 kW, ant. 3,734 ft.
AFFILIATION: ABC
RADIO
KHRA-AM/Honolulu, Hawaii
PRICE: $790,000
TERMS: Asset sale for cash
BUYER: RK Media Group (Phill Sohn, president/CEO); owns no other stations
SELLER: KMC Broadcasting LLC (Tony Kim, president)
FACILITIES: 1460 kHz, 5 kW day/night
FORMAT: Ethnic
COMMENT: Payable in cash at closing; $100K escrow deposit.
WVOH-AM & WVOH-FM/Hazlehurst, Ga.
PRICE: $643,000
TERMS: Asset sale for cash
BUYER: Broadcast South LLC (John Higgs, manager); owns five other stations, none in this market
SELLER: Jeff Davis Broadcasters (John Hulett, president)
FACILITIES: WVOH-AM: 920 kHz, 500 W day/35 W night; WVOH-FM: 93.5 MHz, 25 kW, ant. 315 ft.
FORMAT: WVOH-AM: Gospel; WVOH-FM: Country
COMMENT: Payable in cash at closing; $15K deposit. Deal includes WVOH-LP/Hazlehurst, Ga.
WKXI-AM/Jackson, Miss.
PRICE: $400,000
TERMS: Asset sale for cash and note
BUYER: Pollack Broadcasting Co. (William Pollack, president); owns six other stations, none in this market
SELLER: Inner City Broadcasting Corp. (Pierre Sutton, CEO)
FACILITIES: 1400 kHz, 1 kW day/night
FORMAT: Urban/Oldies
COMMENT: $50K cash at closing plus $350K promissory note.
KUOA-AM/Siloam Springs (Fayetteville), Ark.
PRICE: $355,000
TERMS: Asset sale for cash
BUYER: Jay Bunyard; owns 10 other stations, none in this market
SELLER: Galen Gilbert et al. (Galen Gilbert, president)
FACILITIES: 1290 kHz, 5 kW day/31 W night
FORMAT: Country
COMMENT: $17,750 escrow deposit plus $337,250 cash at closing.
WHBK-AM/Marshall (Asheville), N.C.
PRICE: $300,000
TERMS: Stock sale for cash and note
BUYER: Southern Broadcasting (N.C.) (Randy Houston, owner); owns no other stations
SELLER: Southern Broadcasting (N.C.) (Bruce Phillips, president)
FACILITIES: 1460 kHz, 5 kW day/139 W night
FORMAT: Gospel
BROKER: VR Business Brokers
COMMENT: Phillips is selling his interest in Southern Broadcasting to Houston for $300K; $10K cash at closing plus $290K promissory note.
WXCO-AM/Wausau (Wausau-Stevens Point), Wis.
PRICE: $250,000
TERMS: Cash plus loan proceeds
BUYER: Sunrise Broadcasting LLC (Steven Resnick, sole member); owns no other stations
SELLER: Seehafer Broadcasting Corp. (Don Seehafer, president/general manager)
FACILITIES: 1230 kHz, 1 kW day/night
FORMAT: Sports
BROKER: W. Donald Roberts Jr. of Kozacko Media Services
COMMENT: $15K escrow deposit, plus $10K cash at closing, plus $225K from loan proceeds from the mortgage Buyer is obtaining in conjunction with the real property assets subject to this closing.
WPLX-AM/Turrell (Memphis), Ark.
PRICE: $250,000
TERMS: Asset sale for cash
BUYER: Pollack Broadcasting Co. (William Pollack, president); owns seven other stations, none in this market
SELLER: Educational Media Foundation (Mike Novak, president)
FACILITIES: 1180 kHz, 5 kW day/26 W night
FORMAT: Christian Contemp.
COMMENT: Payable in cash at closing; $12.5K escrow deposit.
WOFE-AM/Rockwood, Tenn.
PRICE: $225,000
TERMS: Asset sale for cash
BUYER: The Holler Inc. (Nicholas Barrett, president); owns no other stations
SELLER: Southern Media Group (Kirk Tollett, president)
FACILITIES: 580 kHz, 1 kW
FORMAT: Country
COMMENT: Payable in cash at closing; $25K escrow deposit.
Information provided by:
BIA Financial Networks' Media Access Pro Chantilly, Va. www.bia.com 703-818-2425
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