Deals
BIA Financial Networks -- Broadcasting & Cable, 5/4/2009 2:00:00 AM
TV
WOAC (TV)/Troy, Ohio
PRICE: $7,000,000
BUYER: Tri-State Christian TV (Garth Coonce, president and founder)
SELLER: Multicultural Capital Trust (Lee Shubert, trustee)
FACILITIES: DTV Ch. 47, 1,000 kW, ant. 440 ft.
AFFILIATION: Ind.
BROKER: Kalil & Co., Inc.
COMMENT: Payable in cash at closing; $500K escrow deposit.
WMAK (DT)/Knoxville, Tenn.
PRICE: $2,000,000
BUYER: Daystar Television Network (Marcus Lamb, president/CEO)
SELLER: Knoxville Channel 7 LLC (J.P. Engelbrecht, president)
FACILITIES: DTV Ch. 7, 95 kW, ant. 1,256 ft.
AFFILIATION: RTN
BROKER: Kalil & Co., Inc.
COMMENT: Payable in cash at closing; $100K escrow deposit.
K17HK/Beaumont, Texas
PRICE: $7,500
BUYER: Gerald R. Proctor
SELLER: Agape Broadcasters (Barry Thompson Sr., president)
FACILITIES: Ch. 17, 20 kW, ant. 315 ft.
RADIO
KCOH-AM/Houston (Houston-Galveston), Texas
PRICE: $8.75 million
TERMS: Asset sale for cash
BUYER: Paraclete Church Ministries (Jesse Dunn, president); owns no other stations
SELLER: KCOH Inc. (Mike Petrizzo, executive VP)
FACILITIES: 1430 kHz, 5 kW day/1 kW night
FORMAT: Urban
COMMENT: Payable in cash at closing; $250K escrow deposit.
KBBN-FM & KCNI-AM/Broken Bow, Neb.
PRICE: $580,000
TERMS: Stock sale for cash and note
BUYER: Custer County Broadcasting (David Birnie, president); owns no other stations
SELLER: Custer County Broadcasting (Liane Griffith, president)
FACILITIES: KBBN-FM: 95.3 MHz, 30 kW, ant. 574 ft.; KCNI-AM: 1280 kHz, 1 kW
FORMAT: KBBN-FM: Classic Rock; KCNI-AM: Country
COMMENT: Buyer is purchasing all of the shares of stock in Custer County Broadcasting, licensee of KBBN-FM and KCNI-AM, from Seller. $58K cash at closing plus $522K promissory note.
KRBL-FM/Idalou(Lubbock), Texas
PRICE: $450,000
TERMS: Asset sale for cash and note
BUYER: Albert and Ricky Benavides (Albert Benavides, co-owner); owns no other stations
SELLER: Kenneth Ramsey
FACILITIES: 105.7 MHz, 6 kW, ant. 328 ft.
FORMAT: Country
BROKER: Media Services Group
COMMENT: $80K escrow deposit plus $20K cash at closing plus $350K promissory note.
KPLD-FM/Kanab, Utah
PRICE: $400,000
TERMS: Asset sale for cash
BUYER: Canyon Media (Kent Frandsen, president); owns two other stations, KZNU-AM and KONY-FM
SELLER: Marathon Media Group LLC (Chris Devine, president)
FACILITIES: 101.1 MHz, 79 kW, ant. 1,969 ft.
FORMAT: Alternative/Rock
COMMENT: Payable in cash at closing; $20K escrow deposit.
WFRM-FM/Portville (Olean), N.Y.
PRICE: $275,000
TERMS: Asset sale for cash and note
BUYER: ColonialRadio Group (Jeffrey Andrulonis, president); owns two otherstations, WLMI-FM and WXMT-FM/Olean
SELLER: Allegheny Mountain Network (Cary Simpson,president)
FACILITIES: 96.7MHz, 460 W, ant.509 ft.
FORMAT: Simply About Music
BROKER: Ray Rosenblum
COMMENT: $5K escrow deposit, $25K cashat closing and apromissory notefor $245K.
WINI-AM/Murphysboro (Marion-Carbondale), Ill.
PRICE: $250,000
TERMS: Asset sale for cash
BUYER: WINI Group LLC (John Scheper, member); owns no other stations
SELLER: RadioStation WINIPartnership (DaleAdkins, generalpartner)
FACILITIES: 1420 kHz, 420 W day/500 W night
FORMAT: News/Talk/Sports
COMMENT: Payablein cash at closing;$5K escrow deposit.
Information provided by: BIA Financial Networks' Media Access Pro Chantilly, Va. www.bia.com 703-818-2425
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