By BIA Financial Networks -- Broadcasting & Cable, 12/17/2006 7:00:00 PM
K57JO, K63HJ Laughlin, Nev.
BUYER: Kansas 9th Island Broadcasting Inc. (Rubin Rodriguez, president)
SELLER: Mojave Broadcasting Co. (Suzanne Rogers, president)
FACILITIES: K57JO: Ch. 57, 10 kW, ant. -288 ft.; K63HJ: Ch. 63, 150 kW, ant. -288 ft.
BROKER: Rubin Rodriguez
COMMENT: Purchase price includes $95,000 for station licenses payable as follows: $75,000 (including $3,750 escrow deposit) cash at closing to seller plus $20,000 to Rodriguez as broker; plus $55,000 to Gerald Proctor for LPTV station equipment suitable for use in construction and operation of the stations.
K40HR Chanute, Kan.
BUYER: Western Family Television (Roger Lonnquist, chairman)
SELLER: Trinity Broadcasting Network Inc. (Paul Crouch, president)
FACILITIES: Ch. 40, 8 kW
K07OJ Snowflake, Ariz.
BUYER: Fox Television Broadcasting Inc. (Roger Ailes, chairman)
SELLER: Porter Mountain Antenna TV Assn (Jock Phillips, president)
FACILITIES: Ch. 7, 0.033 kW
KSVX(LP) Hailey, KSVT(LP) Ketchum and K20HW McCall, Idaho
BUYER: Plum TV Inc. (Chris Glowacki, president)
SELLER: E-DA-HOE Inc. (Clint Stennett, president)
FACILITIES: KSVX(LP): Ch. 18, 1.5 kW, ant. 1,881 ft.; KSVT(LP): Ch. 20, 0.143 kW, ant. 1,867 ft.; K20HW: Ch. 20, 0.19 kW
AFFILIATION: KSVX(LP): i; KSVT(LP): Ind.
COMMENT: Purchase price is $250,000 escrow deposit plus $1.45 million cash at closing for a total of $1.7 million, plus a deferred payment payable after 1/1/08 but no later than 3/1/08, an amount equal to 81% of the gross revenue received by the buyer from operation of the business during 2007 without regard for when closing occurs; plus an additional $2.05 million in escrow as security. If deferred payment equals an amount less than the difference between the $2.3 million in escrow minus the fixed purchase price, all remaining funds in escrow shall be returned to buyer. If deferred payment is greater than the remaining escrow amount, buyer will pay seller the difference between the deferred payment and the remaining escrow amount, no later than the deferred payment date.
K36DB Avon, K26GY and K28HI Breckenridge, and K16FX Steamboat Springs, Colo.; K38FW and K59GM Stateline, Nev.
BUYER: Resort Sports Network Inc. (Mark Burchill, shareholder/director)
SELLER: Resort Sports Network Inc. (Jeff Dumais, president)
FACILITIES: K36DB: Ch. 36, 0.001 kW, ant. -1,685 ft.; K26GY: Ch. 26, 0.10 kW; K28HI: Ch. 28, 0.016 kW; K16FX: Ch. 16, 150 kW; K38FW: Ch. 38, 12 kW; K59GM: Ch. 59, 8 kW, ant. -661 ft.
AFFILIATION: K36DB: CBS; K26GY: PBS; K28HI: Ind.; K38FW: PBS; K59GM: Ind.
COMMENT: Transfer of control through a merger between Resort Sports Network Inc. (RSN) and newly formed RSN MergerSub Inc., which is wholly owned by the proposed transferees through holding company RSN Acquisition Inc. RSN will be the surviving entity.
K35HY Chico, Calif.
BUYER: Sainte Partners II LP (Chester Smith, president/general partner)
SELLER: David Primm
FACILITIES: Ch. 57, 95 kW
KOBE(AM) Las Cruces and KMVR(FM) Mesilla Park (Las Cruces), N.M.
PRICE: $1.9 million
BUYER: Bravo Mic Communications LLC (Ned Bennett, member/manager); owns two other stations, including KVLC(FM) and KXPZ(FM) Las Cruces
SELLER: Edwards Media Ltd Co. (Larry Edwards, manager/member/CEO)
FACILITIES: KOBE(AM): 1450 kHz, 1 kW; KMVR(FM): 104.9 MHz, 3 kW, ant. -33 ft.
FORMAT: KOBE(AM): News/Talk; KMVR(FM): AC
COMMENT: At closing, Bravo Mic will enter into a consulting agreement with Edwards under which Edwards Media will receive 100% of the stations’ annual net profits each year for five years after the closing unless and until total of such payments exceeds $700,000 in the aggregate.
WCRI(FM) Block Island and WCNX(AM) Hope Valley (Providence-Warwick-Pawtucket), R.I.
BUYER: Christopher Jones; owns no other stations
SELLER: Charles River Broadcasting (Christopher Jones, president)
FACILITIES: WCRI(FM): 95.9 MHz, 6 kW, ant. 249 ft.; WCNX(AM): 1180 kHz, 2 kW
FORMAT: WCRI(FM): Classical; WCNX(AM): News
BROKER: Tom McKinley of Media Services Group
KMCQ(FM) Covington (Seattle-Tacoma), Wash.
PRICE: $5.1 million
BUYER: First Broadcasting Investment Partners LLC (Gary Lawrence, president/vice chairman); owns eight other stations, none in this market
SELLER: Mid Columbia Broadcasting (John Huffman, VP)
FACILITIES: 104.5 MHz, 25 kW, ant. 318 ft.
COMMENT: Purchase price is $5.1 million cash if closing occurs by 3/31/07, $5.3 million cash after that date, plus an additional upside participation payment. This payment will be calculated after closing: 20% of the sales proceeds from an unaffiliated third party that exceed $15 million if buyer has listed the station for sale within 90 days after beginning operation from any transmission location on or within 2 miles of Cougar Mountain; or 20% of fair-market value that exceeds $15 million if, after beginning operations, buyer has not listed the station. Upside participation shall not exceed $3.1 million. If the station is not sold or appraised for more than $15 million, there will be no upside participation payment.
KANY(FM)(CP) Ocean Shores, Wash.
BUYER: Jodesha Broadcasting Inc. (William Wolfenbarger, president/director); owns two other stations, none in this market
SELLER: College Creek Media LLC (Bruce Buzil, manager)
FACILITIES: 93.5 MHz, 6 kW, ant. 69 ft.
WXET(FM) Arcola, Ill.
BUYER: Champaign Partners LLC (John Maguire, manager); owns no other stations
SELLER: Premier Broadcasting Inc. (Gayla Jo Ring, president)
FACILITIES: 107.9 MHz, 3 kW, ant. 492 ft.
BROKER: Scott Krusinski
PRICE: $7 million
BUYER: Good Karma Broadcasting (Craig Karmazin, president); owns nine other stations, including WWGK(AM) Cleveland
SELLER: Salem Communications Corp. (Edward Atsinger III, president/CEO)
FACILITIES: 850 kHz, 50 kW day/5 kW night
BROKER: Gary Stevens of Gary Stevens and Co
WNVY(AM) Cantonment (Pensacola), Fla.
BUYER: Wilkins Communications Network Inc. (Robert Wilkins, president); owns 12 other stations, none in this market
SELLER: Satellite Radio Network (Michael Glinter, president)
FACILITIES: 1090 kHz, 10 kW
FORMAT: Black Gospel
WJIT(AM) Sabana, P.R.
BUYER: WJIT Broadcasting Corp. (Jaime Rivera Acevedo, owner); owns no other stations
SELLER: WJIT Broadcasting Corp. (Olga Fernandez, president)
FACILITIES: 1250 kHz, 250 W day/1 kW night
FORMAT: Spanish/Variety Hits
COMMENT: Acevedo is purchasing all of the stock in WJIT Broadcasting Corp.
WZNO(AM) Pensacola, Fla.
BUYER: Divine Word Communications (Gene Church, president/secretary); owns no other stations
SELLER: Satellite Radio Network (Michael Glinter, president)
FACILITIES: 1230 kHz, 1 kW
WWGC(AM) Albertville, Ala.
BUYER: Quality Properties LLC (Jeffery Allen Beck, managing member); owns no other stations
SELLER: MVB Inc. (Shannon King, president)
FACILITIES: 1090 kHz, 500 W
WXCE(AM) Amery, Wis.
BUYER: Red Rock Radio Corp. (Ro Grignon, president); owns 16 other stations, none in this market
SELLER: Johnson Broadcasting Corp. (Robert Johnson, president)
FACILITIES: 1260 kHz, 5 kW
BROKER: James Wychor
WTOF(AM) Bay Minette (Mobile), Ala.
BUYER: Buddy Tucker Association Inc. (Buddy Tucker, president); owns two other stations, including WMOB(AM) Mobile
SELLER: Great American Radio Network Inc. (Walter Bowen, president)
FACILITIES: 1110 kHz, 10 kW
WTRP(AM) La Grange and WRLA(AM) West Point, Ga.
BUYER: Tiger Communications Inc. (Thomas Hayley, president); owns five other stations, none in this market
SELLER: Casey Network LLC (Jimmy Jarrell, president/CEO)
FACILITIES: WTRP(AM): 620 kHz, 3 kW day/127 W night; WRLA(AM): 1490 kHz, 1 kW
FORMAT: WTRP(AM): Oldies; WRLA(AM): Talk
COMMENT: Deal includes assignment of Tiger Communications Educational Foundation’s non-commercial WELL(FM) Dadeville, Ala., to James Jarrell Communications and Foundation.
WOAY(AM) Oak Hill (Beckley), W.Va.
BUYER: Thomas H. Moffit Jr. (Thomas Moffit Jr., president); owns two other stations, neither in this market
SELLER: Commissioned Communications Inc. (Eugene Ellison, president)
FACILITIES: 860 kHz, 10 kW day/11 W night
COMMENT: Buyer is paying an additional $50,000 for the studio.
Information provided by:
BIA Financial Networks’ Media Access Pro
Chantilly, Va. www.bia.com, 703-818-2425
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