More than a year after announcing a three-way merger with Garrison City Broadcasting that never was completed, Aruba Capital Holdings and Port Broadcasting are finally merging their holdings in Coastal New England.
Andrew Hartmann will contribute his Aruba Capital Holdings’ “Classic Rock 92.1” 1540 WXEX/97.1 W246BP Exeter NH and 92.1 WXEX-FM Sanford ME into Port Broadcasting for a 29.1% stake in the company that will be combined with his post-merger 26.9% personal stake. Carl Strube and Pete Falconi will each hold 22% of the newly combined company.
Port Broadcasting currently owns Adult Standards 1450 WNBP/106.1 W291CC Newburyport MA and “1220 The Legends” WWSF/W272CG Sanford ME.
Rather than merge with Aruba & Port, Garrison City Broadcasting sold AC “98.7 The Bay” WBYY Somersworth and News/Talk 1270 WTSN Dover NH to Binnie Media in April for $2.1 million.
