Beasley Media Group has announced the sale of Classic Rock “98.7 The Shark” WPBB Holmes Beach/Tampa to K-Love Inc.
Update 7/2: K-Love Inc. will pay $8 million for WPBB. There is no operating agreement ahead of closing.
Beasley Media Group CEO Caroline Beasley said, “We’re excited to enter into an agreement with EMF on the sale of 98.7 The Shark. EMF’s longstanding commitment to delivering uplifting, family-friendly content aligns with the values of the community, and we’re confident they will make a meaningful impact as they enter this vibrant market.”
K-Love CEO Tom Stultz commented, “After 43 years, it is truly a privilege and a blessing to finally be in Tampa. Our mission is to be a trusted source of compelling media linking people everywhere to the hope of Christ. We anticipate K-LOVE’s positive and encouraging Christian format will become a welcomed, safe place to land for listeners in this fantastic city.”
Beasley acquired WPBB in 2014 as part of a multi-market swap with CBS Radio. After closing, Beasley flipped the station from Sports to Classic Rock “Bubba 98.7” followed by time as “98.7 No Rules Rock“, AC “B98.7”, and then back to Classic Rock as “The Shark” in 2018.
Michael J. Bergner served as the official broker for the transaction.
Neg Ative
How to tell a radio company is about 12 months from bankruptcy? They start spinning off major market stations to EMF/K-Love. Beasley is done, stick a fork in them. They are also rumored to be trying to dump WRCA AM in Boston and the 106.1 Translator that goes with it. Bloomberg is trying to dump WNBP AM and their 2 106.1 translators north of Boston