Newly formed Twin Islands Media Group has announced it will acquire Variety Hits 96.5 WCTG from Sebago Broadcasting and Country “Wow 101.5” WOWZ Chincoteague VA from Jackman Holdings. The company will begin to operate both stations and Signal Above LLC’s 87.7 WDCO-LP Salisbury MD (which currently simulcasts WOWZ) on April 1. WCTG and WOWZ are both currently operated via LMA by GSB Broadcasting. Not included in the sale is GSB’s 92.5 WICO-FM Pocomoke City MD, which currently simulcasts WCTG. The partners in Twin Islands Media Group include veteran programmer and Washington DC area on-air talent Chris Roth, engineer Joshua Bohn who is also principle owner of Bohn Broadcast Services, and Dana Ryan who most recently co-hosted mornings at iHeartMedia AC “Magic 96.5...Read More
Station Sales Impact Radio Group will swap Sports “ESPN Boise” 730 KNFL Boise ID, 92.7 K224EP Boise, and the CP for 106.7 K294DC Boise to Kevin Terry’s Radio Rancho LLC. for 99.1 K256CZ Boise and $35,000. Radio Rancho owns two other FM’s in the Boise market, while Impact will own 1 AM, 4 FMS, and 3 translators in the market upon closing of this deal. The current formats will not be involved in the deal. Radio Rancho is also selling 95.7 KMGR Gunnison UT to Sanpete County Broadcasting for $50,000. The seller has a pending deal to acquire KMGR from Broadway Media’s SLC Divestiture Trust in exchange for two translators. Laurel Media is purchasing Oldies “92 Gold” 92.3 WRRN Warren, Country “Kinzua Country 104.3” WKNB Clarendon, and News/Tal...Read More
Station Sales Rothschild Broadcasting is selling Country “Cat Country 97.5” WKTT Salisbury MD to Joseph Morris and Ron Banks’ RoJo Broadcasting for $305,000. The buyers will begin operating WKTT via Time Brokerage Agreement on March 1. Banks recently served as MD/Nights at Urban “Power 101.7” WZEB Ocean View DE. Rothschild had purchased WKTT and News/Talk 1320 WICO Salisbury from Delmarva Broadcasting in November 2015 for $300,000. The Guel Family Trust’s Mekaddesh Group Corporation purchases Regional Mexican “La Mejor 98.7” KZAM Pleasant Valley/Wichita Falls TX from South Texas FM Investments for $122,000. Radio Dalhart donates Country 93.1 KHJQ Concan TX to Houston Christian Broadcasters. Real Presence Radio acquires 89.5 KBPG Montevideo MN...Read More
Nearly a year after stating they plan to explore selling AAA 89.7 WNKU Highland Heights KY/Cincinnati and its two simulcasters, Northern Kentucky University has announced it has agreed to sell two of the signals to religious operators. 89.7 WNKU will be sold to Bible Broadcasting Network for $1.9 million. Simulcast 104.1 WNKE New Boston OH, which serves the Huntington WV/Ashland KY/Portsmouth OH market will go to Educational Media Foundation for $700,000 plus 75% of the proceeds from EMF divesting 94.9 WEKV South Webster OH. The university has yet to accept an offer for its third station, 105.9 WNKN Middletown OH, which serves the northern half of the Cincinnati market and Dayton. WCPO-TV reports that WNKU has been running a $1 million plus deficit in recent years. Northern Kentucky Univer...Read More
Alpha Media is converting its LMA of two West Palm Beach market AMs into an outright purchase. Alpha will acquires Sports 640 WMEN Royal Palm Beach and News/Talk 850 WFTL West Palm Beach from Mark Jorgensen’s ACM JCE IV B LLC for $2 million. Jorgensen purchased the stations out of former owner James Crystal Enterprises’ bankruptcy restructuring in 2013 and has LMA’d the cluster to Alpha and previous cluster owner Palm Beach Broadcasting since August 2015. WFTL and WMEN join an Alpha Media cluster that includes Hot AC 97.9 WRMF, Urban AC “X102.3” WMBX, Country 103.1 WIRK, AC “Sunny 107.9” WEAT and Urban “Beatz 96.3” W242CI/WMBX-HD2.
Cumulus Media is taking Alternative “96.9 The Fox” WWWX Oshkosh/Appleton WI out of the Current Radio trust. Cumulus placed WWWX in a trust in 2009 following its deal to divest its Appleton/Green Bay stations to Clear Channel and LMA them back. Cumulus would reacquire the stations in 2013. It is now seeking to reassume control of WWWX thanks to the 2013 relicensing of sister 103.1 WOGB from Kaukauna to Reedsville which moved it from the Appleton market to the Green Bay market. WWWX will become Cumulus’ fourth FM in the Appleton market keeping it under the ownership limits. WWWX was the final station still held in trust from Cumulus’ deals in 2009 and 2011.
Station Sales Neal Ardman’s NIA Broadcasting is purchasing Classic Hip-Hop 1150 WTMP Egypt Lake/Tampa and Regional Mexican “96.1 La Mexicana” WTMP-FM Dade City FL from Tama Broadcasting bankruptcy receiver Scott Savage for $500,000. The stations had been in receivership since 2009. NIA began operating the stations via Time Brokerage Agreement on February 3. The sale of Liberal Talk 1510 WRRD Waukegan/Milwaukee has a price. Michael Crute’s New WRRD LLC. will pay Good Karma Broadcasting $760,000 for the AM daytimer. The Levine/Schwab Partnership that owns the CP for new Los Angeles AM 1500 KWIF Culver City are adjusting their ownership stakes based on the amount of capital they have each invested. William Schwab will increase his stake from 46% to 54%, while Howard Le...Read More
ICA Radio will pay $2.48 million for the three Convergent Broadcasting stations in Corpus Christi. The company began operating the stations on February 1 via LMA. Original Report 2/1: Barry Marks’ ICA Radio Ltd. will expand to Corpus Christi with the purchase of the three stations owned by Daniel Duman’s Convergent Broadcasting II. ICA will acquire CHR “Planet 102.3” KKPN Rockport, “Classic Rock 104.5” KPUS Gregory, and Variety Hits “107.3 Jake-FM” KAJE Ingleside for an undisclosed price. ICA owns five stations in the Midland-Odessa market. This is to announce that a contract has been signed and an application is being filed with the FCC for the transfer of radio stations KKPN(FM), KPUS(FM, and KAJE(FM), Corpus Christi, Texas from Convergent ...Read More
Beasley Media has announced it is selling their Greenville-New Bern-Jacksonville NC stations to Curtis Media Group for $11 million. Curtis subidiary CMG Coastal Carolina will acquire Rock “99X” 99.5 WXNR Grifton, Urban AC “101.9 Kiss-FM” WIKS New Bern, Hot AC “V103.3” WMGV Newport, Classic Rock 106.5 WSFL New Bern, and Beach/Oldies 1070 WNCT Greenville. Classic Hits 107.9 WNCT-FM Greenville will be spun-off to Inner Banks Media for an undisclosed amount. Beasley intends to use the proceeds from the sale to reduce debt created from its acquisition of Greater Media. Inner Banks, which will acquire WNCT-FM owns four FMs in the market. Beasley Broadcast Group, Inc. (Nasdaq: BBGI) (the “Company”), a large- and mid-size market radio broadcaster, announced toda...Read More
Station Sales Stone Communications sells News/Talk simulcast 1110 WJML Petoskey and 1210 WJNL Kingsley/101.1 W266CS Traverse City MI to John Yob’s Mitten News LLC for $700,000. Adams Radio sells 1590 WGBG Ocean City MD to WBEY 979 LLC for $20,000. WGBG has already begun simulcasting the buyer’s “Bay Country 97.9” WBEY-FM Crisfield. Jubilation Ministries, owner of “91.3 The Message” WSTM Kiel/103.3 W277BR Sheboygan and Standards “1420 The Breeze” WJUB Plymouth WI will merge with Evangel Ministries. Evangel owns Christian AC “The Family” 88.5 WGNV Milladore/91.5 WEMY Green Bay/91.9 WEMI Appleton and five translators. The previously announced sale of 730 WJMT Merrill WI from WRVM Inc. to Sunrise Broadcasting has a price as the buyer ...Read More
There will not be a spin-off and IPO of CBS Radio after all. CBS Corporation will merge its radio division with Entercom in a tax-free merger. The deal will be structured as a Reverse Morris Trust with CBS shareholders having the opportunity to exchange their shares for CBS Radio shares, which will then be merged into Entercom. CBS Radio shareholders will hold 72% of the newly combined Entercom, with existing Entercom shareholders the other 28%. The company will retain the Entercom name following the merger and be led by current Entercom President and CEO David Field. CBS Radio President Andre Fernandez will exit once the deal closes. It will be based in Philadelphia with a nine member Board of Directors. Five of the board members will be current Entercom directors and four to be nominated...Read More
Sovereign Communications has announced it will acquire Talk/Standards 680 WDBC and Country “Kix Country 104.7” WYKX Escanaba MI from KMB Broadcasting for an undisclosed amount. The deal will give Sovereign seventeen stations across five markets on Michigan’s Upper Peninsula including Iron Mountain, Marquette, Newberry, and Sault Saint Marie. KMB Broadcasting has owned the stations since 1978, with a failed $850,000 sale to Catholic operator Starboard Media Foundation in 2002. Upper Peninsula based Sovereign Communications has reached an agreement with KMB Broadcasting to purchase their Escanaba Michigan radio stations, WYKX-FM and WDBC-AM. The two station acquisition will give Sovereign a total of seventeen stations in the Upper Peninsula region of Michigan, where the com...Read More