Deals
By BIA Financial Networks -- Broadcasting & Cable, 11/9/2009 2:00:00 AM
TV
WRAY-TV/Wilson, N.C.
PRICE: $4.5 million
BUYER: TCT Ministries (Garth Coonce, president/director)
SELLER: Multicultural Capital Trust (Lee Shubert, trustee)
FACILITIES: Ch. 30, 1,800 kW, ant. 1,768 ft.
AFFILIATION: Ind.
BROKER: Kalil & Co., Inc.
COMMENT: $225K escrow deposit; balance in cash at closing.
WQPT-TV/Moline and W48CK/Sterling, Ill.
PRICE: Undisclosed
BUYER: Western Illinois University (Alvin Goldfarb, president)
SELLER: Black Hawk College(R. Gene Gardner, president)
FACILITIES: WQPT-TV: Ch. 24, 1,070 kW, ant. 856 ft.; W48CK: Ch. 48, 15.8 kW
AFFILIATION: WQPT-TV: PBS; W48CK: PBS
RADIO
KFUO-FM/Clayton (St. Louis), Mo.
PRICE: $18 million
TERMS: Asset sale for cash and note
BUYER: Gateway Creative Broadcasting (Sandra Brown, president); owns two other stations, none in this market
SELLER: Lutheran Church-Missouri Synod (Raymond Hartwig, secretary)
FACILITIES: 99.1 MHz, 100 kW, ant. 1,027 ft.
FORMAT: Classical
COMMENT: $1.5 million cash at closing, including $150K escrow deposit, plus $16.5 million promissory note.
KSEV-AM/Tomball (Houston-Galveston), Texas
PRICE: $6.5 million
TERMS: Asset sale for cash
BUYER: Patrick Broadcasting LP (Dan Patrick, manager); owns no other stations
SELLER: Liberman Broadcasting (Winter Horton, COO)
FACILITIES: 700 kHz, 15 kW day/1 kW night
FORMAT: Talk
COMMENT: Payable in cash at closing; $125K deposit.
WAJC-FM/Zebulon (Raleigh-Durham), WGPS-FM/Elizabeth City, WPGT-FM/Roanoke Rapids and WJIJ-FM/Norlina, N.C.
PRICE: $1.25 million
TERMS: Asset sale for cash
BUYER: Liberty University Inc. (Jerry Falwell Jr., chancellor); owns two other stations, none in this market
SELLER: Calvary Chapel of Costa Mesa (Charles Smith, president/director)
FACILITIES: WAJC-FM: 90.5 MHz, 1 kW, ant. 210 ft.; WGPS-FM: 88.3 MHz, 50 kW, ant. 446 ft.; WPGT-FM: 91.1 MHz, 2 kW, ant. 69 ft.; WJIJ-FM: 94.3 MHz, 6 kW, ant. 328 ft.
FORMAT: WAJC-FM: Christian Contemporary; WGPS-FM: Christian; WPGT-FM: Christian; WJIJ-FM: Religion
COMMENT: Payable in cash at closing; $62.5K escrow deposit. FM translator W214BJ also part of deal.
KRCQ-FM/Detroit Lakes, Minn.
PRICE: $850,000
TERMS: Asset sale for cash
BUYER: Lake Lida Broadcasting LLC (Christopher Bernier, managing member); owns no other stations
SELLER: Detroit Lakes Broadcasting (Kenn Buehler, president)
FACILITIES: 102.3 MHz, 50 kW, ant. 492 ft.
FORMAT: Country
COMMENT: Payable in cash at closing; $45K escrow deposit.
WKFC-FM/North Corbin and WPBK-FM/Crab Orchard, Ky.
PRICE: $760,000
TERMS: Asset sale for cash
BUYER: Jonathan Smith; owns three other stations, none in this market
SELLER: Radioactive LLC (Benjamin Homel, president/member)
FACILITIES: WKFC-FM: 101.9 MHz, 6 kW, ant. 328 ft.; WPBK-FM: 102.9 MHz, 3 kW, ant. 361 ft.
FORMAT: WKFC-FM: Country; WPBK-FM: Variety
COMMENT: Payable in cash at closing; $100K option payment to be credited against purchase price.
Information provided by: BIA Financial Networks' Media Access Pro Chantilly, Va. www.bia.com 703-818-2425
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