Deals: Jan. 11, 2010
By BIA Financial Networks -- Broadcasting & Cable, 1/11/2010 2:00:00 AM
TV
KNWS-TV/Katy, Texas
PRICE: $14,880,000
BUYER: Una Vez Mas LLC (Terry Crosby, CEO)
SELLER: Johnson Broadcasting,debtor-in-possession (Doug Johnson, president)
FACILITIES: Ch. 51, 2,290 kW, ant. 1,641 ft.
AFFILIATION: Ind.
COMMENT: $13.28 million cash at closing plus $1 million escrow deposit, plus $600K escrow at closing to cover cure payments. Kalil & Co.'s Frank Higney was appointed by the bankruptcy court to act as limited-purpose beneficiary.
KLDT (DT)/Lake Dallas, Texas
PRICE: $9,920,000
BUYER: Una Vez Mas LLC (Terry Crosby, CEO)
SELLER: Johnson Broadcasting, debtor-in-possession (Doug Johnson, president)
FACILITIES: DTV Ch. 39, 1,000 kW, ant. 1,673 ft.
AFFILIATION: Ind.
COMMENT: $9.52 million cash at closing plus $400K escrow at closing to cover cure payments. Kalil & Co.'s Frank Higney was appointed by the bankruptcy court to act as limited-purpose beneficiary.
WAXC-LP/Alexander City and WETU-LP/Wetumpka, Ala.
PRICE: $272,000
BUYER: ACN Sports (James Early,president)
SELLER: Venture Television LLC (Michael Plaia, manager)
FACILITIES: WAXC-LP: Ch. 64, 12.2 kW, ant. 333 ft.; WETU-LP: Ch. 39, 105 kW, ant. 633 ft.
AFFILIATION: WAXC-LP: Ind.; WETU-LP: Ind.
COMMENT: $135K cash, plus the assumption of $136,768 in loans.
RADIO
WLTC-FM/Cusseta (Columbus), Ga.
PRICE: $1.85 million
TERMS: Asset sale
BUYER: PMB Broadcasting LLC (Jim Martin, member); owns four other stations, including WRCG-AM, WCGQ-FM, WKCN-FM & WRLD-FM/Columbus
SELLER: River City Broadcasting (Lynn Page, member)
FACILITIES: 103.7 MHz, 5 kW, ant. 745 ft.
FORMAT: Christmas
NEW-FM (CP)/Magnolia, N.C.
PRICE: $500,000
TERMS: Asset sale for cash and note
BUYER: Pathway Christian Academy (T.D. Worthington, president); owns no other stations
SELLER: Down East Communications/CDC/Center for the Performing Arts (Terry Daniels, president)
FACILITIES: 90.9 MHz, 23 kW, ant. 200 ft.
FORMAT: CP-NOA
COMMENT: $40K cash deposit plus $50K at closing, plus $40K within 30 days after construction is finished. Balance by promissory note after deducting credit for translators.
WFMH-FM/Hackleburg, Ala.
PRICE: $150,000
TERMS: Assumption of debt
BUYER: TNT Inc. (Thomas Hutcheson, president); owns no other stations
SELLER: Williams Communications (Walton Williams II, president/CEO)
FACILITIES: 95.5 MHz, 4 kW, ant. 400 ft.
FORMAT: Country
Information provided by: BIA Financial Networks' Media Access Pro Chantilly, Va. www.bia.com 703-818-2425
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