Deals
By BIA Financial Networks -- Broadcasting & Cable, 4/20/2009 2:00:00 AM
TV
KBMT (TV)/Beaumont, Texas
PRICE: $25,000,000
BUYER: London Broadcasting Co. (Terry London, president/CEO)
SELLER: Texas Television (Michael McKinnon Sr., president)
FACILITIES: Ch. 12, 316 kW, ant. 1,001 ft.
AFFILIATION: ABC
BROKER: Mike McCue
COMMENT: Payable in cash at closing; $1.25 million escrow deposit. Additionally, Buyer shall pay to Seller at closing an amount equal to the out-of-pocket cost and expenses incurred by Seller for the purchase and installation of a 4 kW Harris digital transmitter in an amount not to exceed $342,966.15.
WRJM-TV/Troy, Ala.
PRICE: $3,000,000
BUYER: Southern Venture Capital Group LLC (David Harrison, managing member)
SELLER: Enterprise Capital Corp. (Whit Armstrong, president)
FACILITIES: Ch. 67, 2,820 kW, ant. 1,066 ft.
AFFILIATION: MyNetwork
COMMENT: $3 million plus an undisclosed Citizen Bank lending amount to Seller prior to the execution of a LMA. $50K earnest-money deposit. Buyer is already operating the station via a LMA from Jan. 16.
W40BE/Andalusia, Ala.
PRICE: $20,000
BUYER: Three Notch Communications LLC (Blaine Wilson, managing member)
SELLER: Ericca Hawsey
FACILITIES: Ch. 40, 1 kW, ant. 351 ft.
AFFILIATION: Dark
RADIO
WQTU-FM & WRGA-AM/Rome, Ga.
PRICE: $2.65 million
TERMS: Asset salefor note
BUYER: Rome Radio Partners LLC (D. Randall Quick, member); owns no other stations
SELLER: Southern Broadcasting Cos. (Paul Stone, president)
FACILITIES: WQTU-FM: 102.3 MHz, 1 kW, ant. 745 ft.; WRGA-AM: 1470 kHz, 5 kW day/night
FORMAT: WQTU-FM: Hot AC; WRGA-AM: News/Talk
COMMENT: $2.65 million promissory note.
KBRB-FM & KBRB-AM/Ainsworth, Neb.
PRICE: $540,000
TERMS: Asset sale for cash and note
BUYER: Sandhills Broadcasting LLC (Graig Kinzie, sole member); owns no other stations
SELLER: KBR Broadcasting (Larry Rice, president)
FACILITIES: KBRB-FM: 92.7 MHz, 5 kW, ant. 331 ft.; KBRB-AM: 1400 kHz, 1 kW day/night
FORMAT: KBRB-FM: AC; KBRB-AM: News/Talk/Sports
COMMENT: $130K cash at closing plus $410K promissory note.
Information provided by: BIA Financial Networks' Media Access Pro Chantilly, Va. www.bia.com , 703-818-2425
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