Community Broadcasters Acquires Fort Walton Beach Cluster
Community Broadcasters will pay $5.9 million for the four Fort Walton Beach stations it is acquiring from Apex Broadcasting.
Community will also begin to operate the stations via Time Brokerage Agreement on Monday, June 27.
Original Report 6/21: Bruce Mittman and Jim Leven’s Community Broadcasters LLC has announced it has acquired Apex Broadcasting’s four Destin/Fort Walton Beach stations for an undisclosed amount.
The four stations are CHR “Q92” 92.1 WECQ Destin, Country “Highway 98” 98.1 WHWY Holt, Variety Hits “102.1 The Wave” WWAV Santa Rosa and Active Rock “103.1 The Blaze” WZLB Valparaiso. Community Broadcasters has been expanding throughout South Carolina over the past year after purchasing Miller Communications and some stations from Glory Communications. The company also owns sixteen stations in four Upstate New York markets.
Apex Broadcasting will retain its stations in Charleston and Hilton Head SC and Tuscaloosa AL.
Community Broadcasters LLC has purchased four signals in the Destin/Ft. Walton Beach market from Apex Broadcasting Inc. and has filed for transfer of the licenses pending approval from the FCC as of today. Apex Broadcasting was represented in the transaction by MVP Capital, LLC and Kalil & Co.
Community Broadcasters LLC, in partnership with Northwood Ventures, currently owns and operates 16 signals in upstate New York as well as 16 radio stations, 7 translators and 3 TV construction permits located in South Carolina. The purchase from Apex brings Community Broadcasters’ total holdings to 46 signals.
“We established Community Broadcasters in 2006 with the vision to become the voice for the community. Our stations are considered great places to work and we look forward to supporting the staff, listeners and Ft. Walton Beach communities in every way,” says Jim Leven.
“This purchase furthers our vision to grow a small-market radio group in strategic locations throughout the U.S. These Apex stations have an impressive listenership reaching approximately 50% of the population in the Destin/Ft. Walton Beach market. That certainly made this purchase very attractive,” adds Bruce Mittman.
“We look forward to Community Broadcasting continuing the excellent products and locally focused work Apex has put in place over the last few years. This is a great area and we know Jim and Bruce will be important contributors to the local community in the years ahead,” said Dean Pearce, President of Apex Broadcasting, Inc.
Bruce Mittman also owns and operates Boston-based Mittcom, a full-service advertising agency representing brands such as Subaru of New England, The Paper Store, Empire Loan, Laer Realty, Pure Hockey, Boch Enterprises and Patch Products, a leading manufacturer of toys and specialty line products.