News Articles

Changing Hands

7/08/2001 08:00:00 PM Eastern

Station Trades

By dollar volume and number of sales; does not include mergers or acquisitions involving substantial non-station assets

THIS WEEK

TV/Radio - $0 - 0

TVs - $451,906 - 1

Combos - $7,500,000 - 1

FMs - $8,297,000 - 7

AMs - $13,385,000 - 7

Total - $29,634,406 - 16

SO FAR IN 2001

TV/Radio - $200,000,000 - 1

TVs - $420,240,114 - 19

Combos - $2,757,749,820 - 51

FMs - $278,759,900 - 105

AMs - $102,907,311 - 73

Total - $3,759,657,145 - 249

TVs

WGMP(TV) Gulf Shores/Mobile, Ala.

Price:
$451,906

Buyer:
Pegasus Communications Corp., Bala Cynwyd, Pa. (Marshall W. Pagon, president/controlling shareholder); owns six other TVs; has LMAs with four more TVs. Notes: Pegasus has option to acquire all of seller's TVs; Pagon's mother is married to chairman of seller

Seller:
KB Prime Media LLC, Gladwyne, Pa. (Guyon W. Turner, president); owns four TVs

Facilities:
Ch. 55, 375 kW, ant. 1,010 ft.

Affiliation
: To be WB (currently dark)

Combos

KRBR(FM), KXTP(AM) and WDSM(AM) Superior, Wis., and KDAL-AM-FM and KTCO(FM) Duluth, Minn./Superior

Price:
$7.5 million cash (merger; includes three-year noncompete agreement)

Buyer:
Midwest Communications Inc., Wausau, Wis. (Duey E. "Duke" Wright, president/owner); owns nine other FMs and six other AMs in Michigan and Wisconsin. Wright owns four more FMs and two more AMs, all Wisconsin

Seller:
Northern Communications Acquisition Corp., Washington (Roger C. Ohlrich, president); no other broadcast interests. Note: Northern acquired stations, along with six TVs, from Shockley Communications Corp. for estimated $150 million to $200 million (Changing Hands, Jan. 22). Five TVs are being sold to Quincy Newspapers Inc. for an as-yet-undisclosed price

Facilities:
KRBR: 102.5 MHz, 100 kW, ant. 600 ft.; KXTP: 970 kHz, 1 kW day, 27 w night; WDSM: 710 kHz, 10 kW day, 5 kW night; KDAL(AM): 610 kHz, 5 kW; KDAL-FM: 95.7 MHz, 100 kW, ant. 804 ft.; KTCO: 98.9 MHz, 100 kW, ant. 600 ft.

Formats:
KRBR: CHR; KXTP: Radio Disney; WDSM: sports, sports/talk; KDAL(AM): diversified, news/talk; KDAL-FM: AC, gold; KTCO: country hits

Broker:
Kalil & Co. Inc.

FMs

WXAJ(FM) Hillsboro/Springfield, Ill.

Price:
$2.8 million

Buyer:
Clear Channel Communications Inc., San Antonio (L. Lowry Mays, chairman; Randy Michaels, CEO, Clear Channel Radio); owns/is buying 17 TVs and about 1,162other radios, including three FMs and one AM in Springfield

Seller:
Union Broadcasting, Springfield (Benjamin L. Stratemeyer, president); no other broadcast interests

Facilities:
99.7 MHz, 50 kW, ant. 492 ft.

Format:
Dark

Broker:
Patrick Communications

WISM-FM Altoona/Eau Claire, Wis.

Price:
$2.4 million cash (includes $10,000, two-year noncompete agreement)

Buyer:
Clear Channel (see preceding item); owns four other FMs and two AMs in Eau Claire

Seller:
Alpenglow Communications Inc., Eau Claire (David E. Barrett, president/managing shareholder); no other broadcast interests

Facilities:
98.1 MHz, 25 kW, ant. 279 ft.

Format:
Rock

WVVV(FM) Williamstown/Parkersburg, W.Va./Marietta, Ohio

Price:
$1.625 million

Buyer:
Bennco Inc., Norfolk, Va. (William E. Benns III, president/25% owner); no other broadcast interests. Note: Consent of Clear Channel Communications Inc. is required to close deal

Seller:
Williamstown Broadcasting LLC, Marietta, Ohio (Ronald K. Bishop, managing member); no other broadcast interests

Facilities:
96.9 MHz, 3.5 kW, ant. 129 ft.

Format:
AC

WGUY(FM) Dexter/Newport/Bangor, Maine

Price:
$1 million

Buyer:
Concord Media Group Inc., Odessa, Fla. (Mark W. Jorgenson, president/owner); owns eight other FMs and eight AMs, none Maine; has TBAs with Ohio FM and Pennsylvania AM. Jorgenson also owns/has interest in five more AMs and two more FMs. Jorgenson is selling WTBN(AM) Pinellas Park/Tampa/St. Petersburg, Fla. (see first AM item, below). Note: In 2000, WGUY sold for $1.475 million and later was part of a group bought by seller (Changing Hands, March 27 and July 24, 2000, respectively)

Seller:
Clear Channel (see preceding items); owns the following Bangor-area FMs: WLKE Bar Harbor, WNSX(FM) Winter Harbor/Bar Harbor, WBFB Belfast/Brewer, WKSQ Ellsworth/Brewer, WVOM Howland, WGUY Dexter/Newport and WBYA Searsport, and WRKD(AM)-WMCM(FM) Rockland/Portland/parts of Bangor

Facilities:
102.1 MHz, 26.5 kW, ant. 672 ft.

Format:
Hits of the '50s, '60s and early '70s

Construction permit for WHUG-FM Cooperstown, Pa.

Price:
$342,000 (includes $100, five-year noncompete agreement)

Buyer:
Forever Broadcasting LLC, Hollidaysburg, Pa. (Donald J. Alt and Kerby E. Confer, each 40% members); owns 17 other FMs and nine AMs

Seller:
Fox Allegheny Inc., North East, Pa. (John A. Bulmer, president). Bulmer owns WDOE(AM) Dunkirk and WBKX(FM) Fredonia, N.Y.; is a principal in WQFX-FM Russell, Pa.

Facilities:
107.7 MHzBroker:
Richard A. Foreman Associates (seller)

WGZO(FM) Parris Island/Hilton Head, S.C.

Price:
$100,000 cash

Buyer:
Zip Communications Inc., Bluefield, W.Va. (Michael R. Shott, president/owner); no other broadcast interests

Seller:
Simmons Broadcasting Co., Cornelius, N.C. (W. Lee Simmons,

president); no other broadcast interests

Facilities:
103.1 MHz, 3 kW, ant. 284 ft.

Format:
CHR/Top 40

Construction permit for KSXZ(FM) Lost Cabin/Thermopolis, Wyo.

Price:
$30,000

Buyer:
Jimmy Ray Carroll, Kemmerer, Wyo.; owns KAOX(FM) Kemmerer; has interest in KEVA(AM) Evanston, Wyo. and KTHE(AM)-KDNO(FM) Thermopolis

Seller:
Idaho Broadcasting Consortium Inc., Santa Rosa, Calif. (Frederic W. Constant, president); no other broadcast interests. Note: Seller retains call sign

Facilities:
99.1 MHz

AMs

WTBN (formerly WHNZ) Pinellas Park/Tampa/St. Petersburg, Fla.

Price:
$6.75 million

Buyer:
Salem Communications Corp., Camarillo, Calif. (Stuart W. Epperson, chairman/30.3% owner; Edward G. Atsinger III, president; Edward G. Atsinger III Trust, 44% owner); owns/is buying 80 other radios, including WSUN(AM) Plant City/St. Petersburg, Fla. Epperson owns 51% of Truth Broadcasting Corp., which owns six N.C. AMs

Seller:
Synchronous Media Group Inc., Odessa, Fla. (Mark W. Jorgenson, president/owner); no other broadcast interests

Facilities:
570 kHz, 5 kW

Format:
News/talk

KZSF San Jose/San Francisco, Calif.

Price:
$5 million

Buyer:
Carlos A. Duharte, San Francisco; no other broadcast interests

Seller:
Z-Spanish II Trust, Stamford, Conn. (Mark Inglis, trustee); owns KSQR(AM) Sacramento, Calif.

Facilities:
1370 kHz, 5 kW

Format:
Pop standards

WMIB and WODX Marco Island/Naples/Fort Myers, Fla.

Price:
$975,000

Buyer:
All Financial Network Inc., White Plains, N.Y. (David M. Fleisher, president/owner); no other broadcast interests

Seller:
Cos-Star Broadcasting Corp., Methuen, Mass. (Patrick J. Costa, president/owner). Costa owns three AMs. Note: Cos-Star was to sell stations to another buyer for $900,000 (Changing Hands, Aug. 28, 2000

Facilities:
WMIB: 1660 kHz, 10 kW day, 1 kW night; WODX: 1480 kHz, 1 kw

Formats:
WMIB: News/talk; WODX: Stardust Memory music

Broker:
Chaisson & Co. Inc. (seller)

WHGR Houghton Lake/Mount Pleaseant, Mich.

Price:
$250,000 cash

Buyer:
Clear Channel (see preceding items)

Seller:
Coltrace Communications Inc., Mount Pleasant (John M. Salov, president); owns WUPS(FM) Houghton Lake/Mount Pleasant (via Concord Media Group inc., which is assigning its deal to buy WHGR from Coltrace to Clear Channel)

Facilities:
1290 kHz, 4.9 kW day

Format:
Nostalgia, easy listening, MOR

WRAB Arab/Huntsville, Ala.

Price:
$163,000

Buyer:
Reed Broadcasting LLC, Arab (Edwin H. Reed, 100% member); no other broadcast interests

Seller:
Arab Broadcasting Inc., Arab (Robert F. Scofield, president); no other broadcast interests. Note: Scofield bought 75% of WRAB for $105,000 (Changing Hands, March 13, 2000)

Facilities:
1380 kHz, 1 kW day

Format:
Country

WTAL Tallahassee, Fla.

Price:
$135,000

Buyer:
Unique Broadcasting LLC, Fairview, Tenn. (John H. Wiggins, manager/owner); owns KKJW(FM) Stanton, Texas. Wiggins is buying CP for WJHW(FM) Bainbridge, Ga.

Seller:
Rebus Inc., Tallahassee (Thomas P. Llewellyn, vice president); no other broadcast interests

Facilities:
1450 kHz, 1 kW

Format:
Dark (was talk)

Construction permit for new AM in Pierre, S.D.

Price:
$112,500 cash

Buyer:
James River Broadcasting Co., Valley City, N.D. (Robert E. Ingstad, president/owner); owns two AMs and three FMs in S.D., including KGFX(AM) Pierre. Ingstad owns KGFX-FM Pierre and owns/controls eight other AMs and 11 other FMs in four states, including South Dakots

Seller:
Lee O. Axdahl, Sioux Falls, S.D.

Facilities:
1450 kHz

 

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