Deals
By BIA Financial Networks -- Broadcasting & Cable, 8/17/2008 8:00:00 PM
TV
WDRL-TV/Danville, Va.
PRICE: $5.25 million
BUYER: Living Faith Ministries (Michael Smith, president/director)
SELLER: MNE Broadcasting LLC (Melvin Eleazer, owner/CEO)
FACILITIES: Ch. 24, 1,150 kW, ant. 351 ft.
AFFILIATION: Ind.
COMMENT: $187,500 escrow deposit, plus $187,500 cash at closing, plus $4.875 million promissory note.
RADIO
WRLD-FM/Valley (Columbus), Ala.; WRCG-AM & WCGQ-FM/Columbus and WKCN-FM/Lumpkin (Columbus), Ga.
PRICE: $7.2 million
TERMS: Asset sale for cash
BUYER: PMB Broadcasting LLC (Jim Martin, member); owns no other stations
SELLER: Archway Broadcasting Group LLC (Chuck Thompson, market manager)
FACILITIES: WRLD-FM: 95.3 MHz, 25 kW, ant. 253 ft.; WRCG-AM: 1420 kHz, 5 kW day/79 W night; WCGQ-FM: 107.3 MHz, 100 kW, ant. 1,011 ft.; WKCN-FM: 99.3 MHz, 50 kW, ant. 492 ft.
FORMAT: WRLD-FM: Classic Hits; WRCG-AM: News/Talk/Sports; WCGQ-FM: Christian; WKCN-FM: Country
BROKER: Media Venture Partners
COMMENT: Payable in cash at closing; $360K escrow deposit.
WRFD-AM/Columbus-Worthington (Columbus), Ohio
PRICE: $4 million
TERMS: Asset sale for cash
BUYER: Christian Voice of Central Ohio (Dan Baughman, president); owns seven other stations, including WCVO-FM & WZNP-FM/Columbus
SELLER: Salem Communications Corp. (Edward Atsinger III, CEO)
FACILITIES: 880 kHz, 23 kW
FORMAT: Christian/Talk
BROKER: Greg Guy of Patrick Communications
COMMENT: Payable in cash at closing; $100K escrow deposit.
KYNO-AM/Fresno, Calif.
PRICE: $1.6 million
TERMS: Asset sale for cash
BUYER: John Edward Ostlund; owns one other station, KJWL-FM/Fresno
SELLER: Spanish Catholic Radio (Joseph Fessio, secretary)
FACILITIES: 1300 kHz, 5 kW day/1 kW night
FORMAT: Spanish/Religion
COMMENT: Payable in cash at closing; $80K escrow deposit.
KANM-FM(CP)/Magdalena, N.M.; KNOS-FM/Albany, KTXO-FM/Goldsmith (Odessa-Midland) and KKUL-FM/Groveton, Texas
PRICE: $1.15 million
TERMS: Asset sale for cash
BUYER: Tango Radio LLC (Antonio Falcon, managing member); owns no other stations
SELLER: Matinee Radio LLC (Robert Walker, president)
FACILITIES: KANM-FM(CP): 95.9 MHz, 100 kW, ant. 981 ft.; KNOS-FM: 98.9 MHz, 9 kW, ant. 541 ft.; KTXO-FM: 94.7 MHz, 6 kW, ant. 328 ft.; KKUL-FM: 98.1 MHz, 6 kW, ant. 328 ft.
FORMAT: KANM-FM(CP): CP-NOA; KNOS-FM: CP-NOA; KTXO-FM: CP-NOA; KKUL-FM: CP-NOA
KXPO-AM & KAUJ-FM/Grafton, N.D.
PRICE: $700,000
TERMS: Asset sale for cash
BUYER: Simmons Broadcasting (Robert Simmons, president); owns four other stations, none in this market
SELLER: KGPC Co. (Delhart Nygard, president)
FACILITIES: KXPO-AM: 1340 kHz, 1 kW day/night; KAUJ-FM: 100.9 MHz, 3 kW, ant. 125 ft.
FORMAT: KXPO-AM: Country; KAUJ-FM: Oldies
COMMENT: $600K cash at closing plus $100K security deposit, paid pursuant to an LMA entered into in 1998.
KXOW-FM(CP)/Eldorado, Okla.; KTSX-FM/Knox City, KAHA-FM/Olney, KZAM-FM/Pleasant Valley (Wichita Falls), KZNO-FM/Seymour and KXME-FM/Wellington, Texas
PRICE: $648,108
TERMS: Asset sale for cash
BUYER: South Texas FM Investments LLC (Eloy Vera, member); owns no other stations
SELLER: James Falcon
FACILITIES: KXOW-FM(CP): 96.9 MHz, 19 kW, ant. 377 ft.; KTSX-FM: 107.3 MHz, 6 kW, ant. 328 ft.; KAHA-FM: 104.3 MHz, 50 kW, ant. 472 ft.; KZAM-FM: 98.7 MHz, 6 kW, ant. 318 ft.; KZNO-FM: 92.3 MHz, 50 kW, ant. 492 ft.; KXME-FM: 98.5 MHz, 25 kW, ant. 328 ft.
FORMAT: KXOW-FM(CP): CP-NOA; KTSX-FM: CP-NOA; KAHA-FM: CP-NOA; KZAM-FM: CP-NOA; KZNO-FM: CP-NOA; KXME-FM: CP-NOA
KLVF-FM/Pecos, N.M.
PRICE: $600,000
TERMS: Asset sale for cash
BUYER: Baca Broadcasting LLC (Joseph Baca, managing member); owns one other station, none in this market
SELLER: Meadows Media LLC (William Sims, managing member)
FACILITIES: 100.7 MHz, 4 kW, ant. 686 ft.
FORMAT: Adult Hits/AC
COMMENT: $5K escrow deposit.
Information provided by:
BIA Financial Networks' Media Access Pro Chantilly, Va. www.bia.com 703-818-2425
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