Deals
By BIA Financial Networks -- Broadcasting & Cable, 3/31/2008
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TV
WTVQ-TV/Lexington,Ky.
PRICE: $16.5 million
BUYER: Morris Multimedia (Charles Morris, chairman/president/CEO)
SELLER: Media General(James Zimmerman,president/broadcastdivision)
FACILITIES: Ch. 36, 2,240 kW, ant. 1,001 ft.
AFFILIATION: ABC
COMMENT: Payable in cash at closing; $100K escrow deposit.
KWBA (TV)/Sierra Vista, Ariz.
PRICE: $11.885 million
BUYER: Journal Broadcast Group (Douglas Kiel, vice chairman/CEO)
SELLER: Cascade Broadcasting Group LLC (Carol LaFever, CEO)
FACILITIES: Ch. 58, 5,000 kW, ant. 1,099 ft.
AFFILIATION: CW
BROKER: Larry Patrick of Patrick Communications
COMMENT: Payable in cash at closing; $607,250 escrow deposit.
WMJN-LP/Somerville, Ala.
PRICE: $290,000
BUYER: Global Outreach Ministry Network (Michael Lee, president)
SELLER: First Cullman Broadcasting (Jim Headrick, president)
FACILITIES: Ch. 29, 12 kW, ant. 115 ft.
AFFILIATION: Ind.
COMMENT: $190K payable to seller plus $100K payable to James and Carol Henderson; $5K escrow deposit.
K14AJ/Incline Village, Nev.
PRICE: $15,000
BUYER: Oasis Broadcasting (Linda Macon, president)
SELLER: Planetary Voices Institute (James Noel, CFO)
FACILITIES: Ch. 14, 0.76 kW, ant. 630 ft.
AFFILIATION: Ind.
COMMENT: $3K escrowdeposit plus $12K cash at closing.
RADIO
WKUB-FM/Blackshear and WWUF-FM/Waycross, Ga.
PRICE: $2.375 million
TERMS: Asset sale for cash
BUYER: Go Media Group LLC (Hubert Grizzle, managing member); owns four other stations, none in this market
SELLER: Mattox Broadcasting (Troy Mattox, president)
FACILITIES: WKUB-FM: 105.1 MHz, 50 kW, ant. 348 ft.; WWUF-FM: 97.7 MHz, 6 kW, ant. 325 ft.
FORMAT: WKUB-FM: Country; WWUF-FM: Oldies
BROKER: The Thorburn Co.
COMMENT: Payable in cash at closing; $25K escrow deposit.
WHCG-AM & WBMZ-FM/Metter, Ga.
PRICE: $1.1 million
TERMS: Asset sale for cash
BUYER: Go Media Group LLC (Hubert Grizzle, managing member); owns four other stations, none in this market
SELLER: Radio Metter (Jimmy Page, owner/president)
FACILITIES: WHCG-AM: 1360 kHz, 1 kW; WBMZ-FM: 104.9 MHz, 3 kW, ant. 299 ft.
FORMAT: WHCG-AM: Gospel; WBMZ-FM: Classic Hits
BROKER: The Thorburn Co.
WTWB-AM/Auburndale (Lakeland-Winter Haven), Fla.
PRICE: $385,000
TERMS: Asset sale for cash
BUYER: La Raza Media Group LLC (Edward Olivares, managing member); owns no other stations
SELLER: Carpenter's Home Church Inc. (Shane Simmons, VP/senior pastor)
FACILITIES: 1570 kHz, 5 kW day/13 W night
FORMAT: News/Talk
BROKER: Hadden & Assoc. Media Brokers
WKEN-FM(CP)/Fredonia, Ky.
PRICE: $299,600
TERMS: Asset sale for cash and note
BUYER: Educational Media Foundation (Mike Novak, president); owns 210 other stations, none in this market
SELLER: Patricia E. Van Zandt (Patricia Van Zandt, owner)
FACILITIES: 92.1 MHz, 5 kW, ant. 374 ft.
FORMAT: CP-NOA
COMMENT: $50K cash at closing plus $249,600 promissory note.
WSEV-AM/Sevierville (Knoxville), Tenn.
PRICE: $212,500
TERMS: Asset sale for cash
BUYER: C.J. Perme; owns one other station, none in this market
SELLER: Whitfield Communications (Paul Fink, president)
FACILITIES: 930 kHz, 5 kW day/148 W night
FORMAT: Sports
COMMENT: Payable in cash at closing. $12,500 escrow deposit.
KXMP-FM(CP)/Hanna, Wyo.
PRICE: $150,000
TERMS: Asset sale for cash and note
BUYER: Toga Radio LLC (Donald Day Jr., manager-member); owns no other stations
SELLER: Wagonwheel Communications Corp. (Alan Harris, president/treasurer)
FACILITIES: 102.1 MHz, 100 kW, ant. 963 ft.
FORMAT: CP-NOA
COMMENT: Buyer shall credit Seller with a contribution to Buyer of $40K and issue to Seller a 20% membership interest in Seller, enter into a promissory note of $110K, and enter into a security agreement, the terms of which are undisclosed.
Information provided by:
BIA Financial Networks' Media Access Pro Chantilly, Va. www.bia.com 703-818-2425
