Deals

By BIAFN Staff -- Broadcasting & Cable, 9/13/2010 12:01:00 AM

TV

WBDT (DT)/SPRINGFIELD, OHIO AND WIWB (DT) SURING, WIS.

PRICE: $11.5 million
BUYER: LIN Television Corp. (Vincent Sadusky, president/ CEO)
SELLER: ACME Communications (Jamie Kellner, chairman)
FACILITIES: WBDT: DTV Ch. 26, 770 kW, ant. 1,145 ft.;
WIWB: DTV Ch. 21, 800 kW, ant. 1,089 ft.
AFFILIATION: WBDT: CW; WIWB: CW

 

 

KTAQ(DT)/GREENVILLE, TEXAS

PRICE: $9 million
BUYER: KTAQ of Dallas LLC (Eva Kalawski, manager/VP)
SELLER: Simons Broadcasting LP (Robert Milbank Jr., agent)
FACILITIES: DTV Ch. 46, 600 kW, ant. 1,627 ft.
AFFILIATION: Ind.
COMMENT: Credit bid of debt owed by Seller to Buyer, pursuant to a term note of $10 million executed by Seller payable to Platinum Debt Group LLC.

 

WALO-LP/JUPITER, FLA.

PRICE: $400,000
BUYER: Del Caribe Partners LLC (Mark Jorgenson, managing member)
SELLER: Spirit Productions (David Mantwill, president)
FACILITIES: Ch. 53, 40 kW, ant. 449 ft.
BROKER: TLF

 

KKYK-CA/LITTLE ROCK, ARK.

PRICE: $250,000
BUYER: Pinnacle Media LLC (Gregory Fess, managing member)
SELLER: Bank of Little Rock (Eugene Maris, CEO)
FACILITIES: Ch. 20, 150 kW, ant. 187 ft.
BROKER: Ellis-Wilson LLC
COMMENT: $25K cash at closing plus $225K promissory note.

 

RADIO

KXMX-AM/PARAMOUNT (LOS ANGELES), CALIF.

PRICE: $12 million
TERMS: Asset sale for cash
BUYER: Korean Gospel Broadcasting Network (Chong Hee Yim, president); owns no other stations
SELLER: Salem Communications Corp. (Edward Atsinger III, CEO)
FACILITIES: 1,190 kHz, 25 kW day/1 kW night
FORMAT: Ethnic
BROKER: Mark W. Jorgenson of Jorgenson Broadcast Brokerage
COMMENT: $1M earnest money; and either the balance in cash at closing, or a promissory note in the amount of $1M and the balance in cash.

KGTM-FM/REXBURG, KBJX-FM SHELLEY AND KRXK-AM/REXBURG, IDAHO

PRICE: $1.5 million
TERMS: Asset sale for cash and note
BUYER: Chaparral Communications (Jerrold Lundquist, president); owns six other stations, none in this market SELLER: Pacific Empire Radio Corp. (Jay Mlazgar, VP)
FACILITIES: KGTM-FM: 98.1 MHz, 100 kW, ant. 637 ft.; KBJX-FM: 106.3 MHz, 100 kW, ant. 637 ft.; KRXK-AM: 1,230 kHz, 1 kW day/night
FORMAT: KGTM-FM: Oldies; KBJX-FM: Hot AC; KRXK-AM: Sports
COMMENT: $10K escrow deposit plus $40K cash at closing plus $1.45 million promissory note.

WSMR-FM SARASOTA (SARASOTA-BRADENTON), FLA.

PRICE: $1.28 million
TERMS: Asset sale for cash
BUYER: University of South Florida (JoAnn Urofsky, general manager); owns one other station, none in this market SELLER: Northwestern College Radio Network (Alan Cureton, president)
FACILITIES: 89.1 MHz, 50 kW, ant. 427 ft.
FORMAT: Classical
BROKER: Public Radio Capital and Greg Guy of Patrick Communications
COMMENT: Payable in cash at closing; $62.5K escrow deposit. Deal includes FM translator W280DW.

WPIA-FM/EUREKA, WZPN-FM/ FARMINGTON, WWCT-FM/ BARTONVILLE AND WHPI-FM/ GLASFORD (PEORIA), ILL.

PRICE: $1 million
TERMS: Asset sale for cash
BUYER: Big Toe Communications LLC (Mike Rea, managing member); owns no other stations
SELLER: Independence Media Holdings LLC (Daryl O’Neal, president/CEO)
FACILITIES: WPIA-FM: 98.5 MHz, 6 kW, ant. 328 ft.; WZPNFM: 96.5 MHz, 4 kW, ant. 377 ft.; WWCT-FM: 99.9 MHz, 2 kW, ant. 584 ft.; WHPI-FM: 101.1 MHz, 3 kW, ant. 449 ft.
FORMAT: WPIA-FM: Christian; WZPN-FM: Sports; WWCTFM: Modern Rock; WHPI-FM: Oldies
BROKER: Stephan Sloan of Media Services Group
COMMENT: Payable in cash at closing; $50K escrow deposit.

KRKU-FM/LOVELAND (FORT COLLINS-GREELEY), COLO.

PRICE: $750,000
TERMS: Asset sale for cash
BUYER: WAY-FM Media (Robert Augsburg, president); owns 18 other stations, including KXWAFM/ Fort Collins-Greeley
SELLER: Mountain State Radio(Victor Michael, president)
FACILITIES: 93.9 MHz, 580 W, ant. 1,047 ft.
FORMAT: Rock

WNAE-FM/CLARENDON, PA.

PRICE: $400,000
TERMS: Asset sale for cash
BUYER: Family Life Ministries (Rick Snavely, president); owns 16 other stations, none in this market
SELLER: Frank Iorio FACILITIES: 102.7 MHz, 6 kW, ant. 341 ft.
FORMAT: Country
COMMENT: $20K deposit; plus either $380K cash at closing, which may be reduced by $10K, or $180K cash at closing plus $200K promissory note.