Cumulus Media’s Mainstay Station Trust has sold Sports “106.5 The Ticket” WTOD Delta/Toledo OH to Delmarva Educational Association for $110,000.
WTOD was the last of the four stations required to be sold off by Cumulus following the company’s exit from Chapter 11 bankruptcy in 2018. Cumulus will retain all of the intellectual property of the station and call letters. The deal is being valued at $400,000 for tax purposes with the remainder of the $110,000 purchase being considered a charitable contribution from Cumulus.
Run by Stuart Epperson, Jr. and Nancy Epperson, the son and wife of Salem Media Group co-founder Stuart Epperson, Delmarva Educational Association owns non-commercial stations in Florida, Georgia, and Virginia plus the commercially licensed Gospel “1430 The Light” WKOX Boston. The Eppersons also hold interest in multiple other operators including Truth Broadcasting Company, Chesapeake-Portsmouth Broadcasting, and Blue Ridge Radio.
