Deals
By BIA Financial Networks -- Broadcasting & Cable, 6/16/2008
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TV
W25DT/Vidalia, Ga.
PRICE: $25,000
BUYER: Southern Media Associates (Bill Garlen, president)
SELLER: US Interactive (Dean Mosely, CEO)
FACILITIES: Ch. 25, 1 kW, ant. 253 ft.
COMMENT: Payable in cash at closing; $5K deposit.
K59IO/Midland, Texas
PRICE: $12,500
BUYER: Hispanic Christian Community Network (Antonio Cesar Guel, president)
SELLER: Inspiration Television (George Sebastian, president)
FACILITIES: Ch. 59, 20 kW, ant. 328 ft.
COMMENT: Cash at closing.
RADIO
WTEM-AM & WWRC-AM/Washington, D.C.; WTNT-AM/Bethesda (Washington), Md.
PRICE: $24.5 million
TERMS: Asset sale for cash
BUYER: Red Zebra Broadcasting (Bruce Gilbert, president/CEO); owns six other stations, including WXTR-AM, WWXT-FM & WWXX-FM/Washington
SELLER: Clear Channel (John Hogan, CEO/radio)
FACILITIES: WTEM-AM: 980 kHz, 50 kW day/5 kW night; WWRC-AM: 1260 kHz, 5 kW day/night; WTNT-AM: 570 kHz, 5 kW day/1 kW night
FORMAT: WTEM-AM: Sports/Talk; WWRC-AM: Talk; WTNT-AM: Talk/News
COMMENT: Payable in cash at closing; 10% escrow deposit. Buyer will begin to provide programming to the stations via an LMA from July 1.
KKFC-FM/Coalgate and KTLS-FM/Holdenville, Okla.
PRICE: $1.5 million
TERMS: Asset sale for cash
BUYER: Chickasaw Nation (Roger Harris, general manager); owns four other stations, none in this market
SELLER: Woodstone Broadcasting (Rick Woodward, president)
FACILITIES: KKFC-FM: 105.5 MHz, 20 kW, ant. 364 ft.; KTLS-FM: 106.5 MHz, 25 kW, ant. 328 ft.
FORMAT: KKFC-FM: Country; KTLS-FM: Christian/Rock
COMMENT: $50K deposit plus $1.45 million cash at closing.
KINY-AM & KSUP-FM/Juneau, Alaska
PRICE: $1.43 million
TERMS: Asset sale for cash
BUYER: Juneau Alaska Communications (Roy Paschal, member); owns no other stations
SELLER: Alaska Juneau Communications (Dennis Egan, president)
FACILITIES: KINY-AM: 800 kHz, 10 kW day/8 kW night; KSUP-FM: 106.3 MHz, 10 kW, ant. -1,007 ft.
FORMAT: KINY-AM: Full Service; KSUP-FM: Hot AC
COMMENT: $116,250 deposit plus $1,308,750 cash at closing.
WDLR-AM/Westerville (Columbus), Ohio
PRICE: $800,000
TERMS: Asset sale for cash and note
BUYER: ICS Holdings (Mark Litton, president/secretary/treasurer); owns one other station, none in this market
SELLER: Fifteen Fifty Corp. (Patricia Casagrande, president)
FACILITIES: 1550 kHz, 4 kW day/190 W night
FORMAT: Spanish AC
COMMENT: $50K cash down payment plus $25K worth of goods, services, labor and equipment; plus $425K cash at closing plus $300K promissory note.
KJAA-AM/Globe, Ariz.
PRICE: $300,000
TERMS: Asset sale for cash and note
BUYER: 1TV.Com (John Low, president); owns three other stations, none in this market
SELLER: Good News Radio Broadcasting (Douglas Martin, president)
FACILITIES: 1240 kHz, 1 kW day/night
FORMAT: News/Talk
COMMENT: $10K escrow deposit plus $40K cash at closing, plus $250K loan carry-back.
NEW-FM(CP)/South Heart, N.D.
PRICE: $150,000
TERMS: Asset sale for cash
BUYER: Western Edge Media (William Palanuk, member); owns no other stations
SELLER: Steven Bartholomew
FACILITIES: 105.7 MHz, 100 kW, ant. 220 ft.
FORMAT: CP-NOA
BROKER: Bold Moves Consulting and MCH Enterprises
COMMENT: Cash at closing; $7.5K escrow deposit.
KWAP-FM(CP)/Pine Haven, Wyo.
PRICE: $137,500
TERMS: Asset sale for cash
BUYER: Keyhole Broadcasting (Kevin Clements, manager); owns no other stations
SELLER: Davao LLC (Hursel Adkins Jr., CEO)
FACILITIES: 99.1 MHz, 28 kW, ant. 1,595 ft.
FORMAT: CP-NOA
BROKER: W.B. Grimes & Co.
COMMENT: Payable in cash at closing; $10K escrow deposit.
WRMR-FM(CP)/Lindenhurst (Nassau-Suffolk), N.Y.
PRICE: $57,500
TERMS: Asset sale for cash
BUYER: Calvary Chapel of Hope (Claude Stauffer, president); owns no other stations
SELLER: JCM Radio of N.Y. (John Celenza, president)
FACILITIES: 89.3 MHz, 32 W, ant. 171 ft.
FORMAT: CP-NOA
COMMENT: Payable in cash at closing; $2,500 escrow deposit.
Information provided by:
BIA Financial Networks' Media Access Pro Chantilly, Va. www.bia.com 703-818-2425
