News Articles

Deals

5/31/2010 12:01:00 AM Eastern

TV

WHRE (DT)/VIRGINIA BEACH, VA.
PRICE: $7.5 million
BUYER: Trinity Broadcasting Network (Paul Crouch, president)
SELLER: Copeland Channel 21 LLC (Robert Copeland, managing member)
FACILITIES: DTV Ch. 7, 85 kW, ant. 1,017 ft.
AFFILIATION: TBN
COMMENT: $5 million to BB&T to satisfy and release Seller's promissory note and loan agreement, plus $2.5 million cash at closing to Seller.


WNGS (DT)/SPRINGVILLE, N.Y.
PRICE: $2.75 million
BUYER: ITV of Buffalo LLC (Philip Arno, member)
SELLER: Daystar Television Network (Marcus Lamb, president/CEO)
FACILITIES: DTV Ch. 7, 26.9 kW, ant. 577 ft.
AFFILIATION: Dark
COMMENT: $50K escrow deposit plus $450K cash at closing plus $2.25 million promissory note.

 

 

KUVM-CA/MISSOURI CITY AND KCPV-LP/VICTORIA, TEXAS
PRICE: $75,000
BUYER: Mako Communications LLC (Amanda Mintz, member)
SELLER: Club Communications (Gerald Benavides, member)
FACILITIES: KUVM-CA: Ch. 34, 115 kW, ant. 1,093 ft.; KCPV-LP: Ch. 30, 2 kW, ant. 466 ft.
AFFILIATION: KUVM-CA: Dark; KCPV-LP: Ind.
COMMENT: Benavides is selling his 25% interest in Club Communications to Buyer, making Buyer sole owner of the stations.

 

 

WHDS-LP/SAVANNAH, GA.
PRICE: $30,000
BUYER: Community Television Inc. (Greg West, director)
SELLER: Carolina Christian Broadcasting (Dante Thompson, managing member)
FACILITIES: Ch. 32, 4.46 kW, ant. 315 ft.
AFFILIATION: Ind.
COMMENT: $30K deposit.

 

RADIO

 

 

KRTM-FM/TEMECULA, CALIF.
PRICE: $3 million
TERMS: Asset sale for cash
BUYER: Calvary Chapel of Costa Mesa (Charles Smith, president/director); owns seven other stations, none in this market
SELLER: Penfold Communications (Jeffrey Smith, president)
FACILITIES: 88.9 MHz, 270 W, ant. 3,058 ft.
FORMAT: Christian
COMMENT: Payable in cash at closing; $150K escrow deposit.

 

 

KKHI-FM/CENTENNIAL (DENVER- BOULDER), COLO.
PRICE: $2.33 million
TERMS: Asset sale for cash
BUYER: WAY-FM Media Group (Robert Augsburg, pres.); owns 17 other stations, none in this market
SELLER: Bustos Media Enterprises LLC (Amador Bustos, president/CEO)
FACILITIES: 101.9 MHz, 10 kW, ant. 535 ft.
FORMAT: Christ. Contemp.

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