Station Sales Week Of 6/1
Ed Levine’s Galaxy Media is selling a 21% stake in the company to a group of minority investors for a combined total of between $2.1 and $2.7 million. Each investor will pay $300,000 for 30,000 shares of the company equal to a 3 percent stake. The investors include LM Communications owned Lynn Martin, Syracuse University men’s basketball coach Jim Boeheim, former Syracuse and NBA player Etan Thomas, sports memorabilia marketer Brandon Steiner, Joyce Hergenhan, and two investment groups.
Tenn-Vol Corp will acquire Country trio 92.1 KHOS-FM Sonora, 93.5 KOOK Junction, and 94.3 KYXX Ozona TX from Forster Charitable Foundation for $50,000.