Deals
BIA Financial Networks -- Broadcasting & Cable, 8/3/2009 2:00:00 AM
TV
W50DA/Macon, Ga.
PRICE: $6,000
BUYER: Register Communications (Lowell Register, president)
SELLER: Trinity Broadcasting Network (Paul Crouch, president)
FACILITIES: Ch. 50, 13.3 kW
AFFILIATION: TBN
KNEX-LP/Laredo, Texas
PRICE: Undisclosed
BUYER: Border Media Business Trust (Lawrence Patrick, trustee)
SELLER: Border Media Partners LLC (Jeffrey Hinson, president/CEO)
FACILITIES: Ch. 55, 9.56 kW, ant. 430 ft.
COMMENT: Transfer of control of Seller's licensees from Seller to Buyer pursuant to a Forbearance Agreement between Seller and its lenders.
RADIO
WQXR-FM/New York, N.Y.
PRICE: $45 million
TERMS: Asset sale for cash
BUYER: Univision (Gary Stone, president/COO, radio); owns 71 other stations, including WADO-AM/New York
SELLER: New York Times Co. (Janet Robinson, president/CEO)
FACILITIES: 96.3 MHz, 6 kW, ant. 1,362 ft.
FORMAT: Classical
COMMENT: Buyer will move its Spanish-language La Kalle format from 105.9 to WQXR's 96.3 frequency. WNYC Radio will pay Seller $11.5 million for WQXR's classical format, which WNYC will operateas a non-commercial station at 105.9 (WCAA-FM/Newark, N.J.). Buyer will also assign the license of WCAA-FM to WNYC Radio.
KNGY-FM/Alameda (San Francisco), Calif.
PRICE: $6.5 million
TERMS: Asset sale for cash
BUYER: Royce International Broadcasting (Edward Stolz, II, president/CEO); owns three other stations, none in this market
SELLER: Flying Bear Media (Joe Bayliss, manager of LLC)
FACILITIES: 92.7 MHz, 510 W, ant. 1,112 ft.
FORMAT: Dance
BROKER: Bergner & Co. and Media Venture Partners
COMMENT: $1 million initial escrow deposit plus $5.5 million additional escrow deposit if closing does not occur on or before Sept. 13, 2009.
WKLU-FM/Brownsburg (Indianapolis), Ind.
PRICE: $6.3 million
TERMS: Asset sale
BUYER: Educational Media Foundation (Mike Novak, president/CEO); owns 252 other stations, none in this market
SELLER: Oasis Radio Group (Russ Oasis, president)
FACILITIES: 101.9 MHz,4 kW, ant. 361 ft.
FORMAT: Oldies
BROKER: Michael J. Bergner
COMMENT: Purchase price includes $4.75 million for the station and $1.55 million ($77.5K escrow deposit) for the real estate.
KRKR-FM/Valley(Lincoln), Neb.
PRICE: $1 million
TERMS: Asset sale for cash
BUYER: Mission Nebraska (Stanley Parker, co-director); owns five other stations, none in this market
SELLER: Chapin Enterprises LLC (Richard Chapin, president)
FACILITIES: 94.9 MHz,6 kW, ant. 328 ft.
FORMAT: Dark
COMMENT: Payable in cash at closing; $50K escrow deposit.
KGEM-AM/Boise and KCID-AM/Caldwell (Boise), Idaho
PRICE: $950,000
TERMS: Asset sale for cash and note
BUYER: Salt & Light Radio (Keith Pettyjohn, president); owns no other stations
SELLER: Journal Broadcast Group (Douglas Kiel, vice chairman/CEO)
FACILITIES: KGEM-AM: 1140 kHz, 10 kW day/night; KCID-AM: 1490 kHz, 1 kW day/night
FORMAT: KGEM-AM: Oldies; KCID-AM: Oldies
BROKER: The Exline Co. and Kalil & Co., Inc.
COMMENT: $500K cash at closing, including $50K escrow deposit, plus $450K promissory note.
KFNS-FM/Troy(St. Louis), Mo.
PRICE: $480,000
TERMS: Asset sale for cash
BUYER: Westplex Broadcasting LLC (John Scheper, president); owns no other stations
SELLER: Big League Broadcasting (Andrew Saltzman, co-president)
FACILITIES: 100.7 MHz,6 kW, ant. 328 ft.
FORMAT: Sports/Talk
COMMENT: $48K initial deposit plus $432K final payment.
Information provided by: BIA Financial Networks' Media Access Pro Chantilly, Va. www.bia.com703-818-2425
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