Deals
By BIA Financial Networks, -- Broadcasting & Cable, 8/25/2008
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TV
K49IM/Parker, Ariz.; W11CX/Salisbury, Md.; K30IS/Denison and K45IN/Victoria, Texas
PRICE: $2 million
BUYER: Iglesia Manmin Toda La Creacion USA (Esteban Handal, president)
SELLER: Hispanic Christian Community Network (Antonio Cesar Guel, president)
FACILITIES: K49IM: Ch. 49, 50 kW, ant. 725 ft.; W11CX: Ch.11, 0.100 kW, ant. 13 ft.; K30IS: Ch.30, 0.300 kW; K45IN: Ch.45, 0.250 kW,ant. 13 ft.
COMMENT: $75K paid, plus the balance by promissory note.
KVPA-LP/Phoenix, Ariz.
PRICE: $1.25 million
BUYER: Liberman Broadcasting (Lenard Liberman, exec. VP)
SELLER: Latin American Broadcasting (Wallace Springstead, president/CEO)
FACILITIES: Ch. 42, 11 kW
AFFILIATION: Ind.
COMMENT: Undisclosed escrow amount; balance payable in cash at closing.
W23BZ/Columbus, Ohio
PRICE: $10
BUYER: Guardian Enterprise (Richard Schilg, president)
SELLER: National Minority TV (Jane Duff, president)
FACILITIES: Ch. 23, 17 kW
AFFILIATION: TBN
RADIO
WRVI-FM/Valley Station (Louisville), Ky.
PRICE: $3 million
TERMS: Asset sale
BUYER: WAY-FM Media Group (Robert Augsburg, president); owns 17 other stations, including WAYI-FM/Louisville
SELLER: Salem Communications Corp. (Edward Atsinger III, president)
FaCILITIES: 105.9 MHz, 640 W, ant. 719 ft.
FORMAT: Christian Contemporary
BROKER: Greg Guy of Patrick Communications
KRTX-AM/Rosenburg/Richmond (Houston-Galveston), Texas
PRICE: $3 million
TERMS: Asset sale
BUYER: Aleluya Christian Broadcasting (Roberto Villareal, president); owns three other stations, including KBRZ-AM and KFTG-FM/Houston-Galveston
SELLER: Univision (Gary Stone, president/COO)
FACILITIES: 980 kHz, 1kW day/4kW night
FORMAT: Tejano
BROKER: John W. Saunders and Kalil & Co., Inc.
WGOS-AM/High Point (Greensboro-Winston Salem-High Point), N.C.
PRICE: $750,000
TERMS: Asset sale for cash
BUYER: Iglesia Nueva Vida of High Point (Javier Fernandez, president/treasurer); owns no other stations
SELLER: Ritchy Broadcasting (Simon Ritchy, president)
FACILITIES: 1070 kHz, 1 kW
FORMAT: Spanish/Talk/Religion
COMMENT: $37.5K escrow deposit plus $712.5K cash at closing.
WPRZ-FM/Newton Grove, N.C.
PRICE: $300,000
TERMS: Asset sale for cash
BUYER: Grace Christian School (Clyde Eborn, president); owns three other stations
SELLER: Educational Media Foundation (Mike Novak, president)
FACILITIES: 90.7 MHz, 3 kW, ant. 354 ft.
FORMAT: Christian Contemporary
COMMENT: Payable in cash at closing; $30K escrow deposit.
WXAF-FM/Charleston,W. Va.
PRICE: $250,000
TERMS: Asset sale for note
BUYER: Shofar Broadcasting Corp. (Jim Jenkins, president); owns one other station, none in this market
SELLER: Maranatha Broadcasting (WV) (Paul Warren, president)
FACILITIES: 90.9 MHz, 800 W, ant. 623 ft.
FORMAT: Christian
COMMENT: $250K promissory note.
WBTN-AM/Bennington, Vt.
PRICE: $100,000
TERMS: Asset sale for cash
BUYER: Shires Media Partnership (Robert Howe, president); owns no other stations
SELLER: Southern Vermont College (Karen Gross,president)
FORMAT: News/Talk/Sports
WIMO-AM/Winder (Atlanta), Ga.
PRICE: $85,000
TERMS: Asset sale for cash
BUYER: Country Road Productions (Gregory Smith, general partner); owns no other stations
SELLER: Mark Myers
FACILITIES: 1300 kHz, 650 W day/50 W night
FORMAT: Talk
COMMENT: Payable in cash at closing, less $1,600 monthly principal payments out of $2,250 monthly LMA payments; $10K deposit. The parties entered into an LMA on Nov. 1, 2007.
KNBO-AM/New Boston (Texarkana), Texas
PRICE: $70,000
TERMS: Asset sale for cash
BUYER: Chapel of Light (A.M. Adams, director); owns no other stations
SELLER: Bowie County Broadcasting (Martha Knox, president)
FACILITIES: 1530 kHz, 3 kW
FORMAT: Christian
Information provided by:
BIA Financial Networks' Media Access Pro Chantilly, Va. www.bia.com 703-818-2425
