Update 9/24: EMF will pay $472,000 for WPFM. Not included in the sale are the intellectual property of WPFM or their studio equipment leading credence to the thought that the “Hot 107.9” branding will slide elsewhere,
Original Report 9/21: Powell Broadcasting has agreed to sell CHR “Hot 107.9” WPFM Panama City FL to Educational Media Foundation.
Powell will retain its three other stations in the Panama City market: “Classic Rock 95.9” WRBA Springfield, “Kickin’ Country 103.5” WKNK Callaway, and Variety Hits “105.1 Bob-FM” WASJ Panama City Beach. The deal was brokered by Kalil & Co.
This is to announce that a contract has been signed and an application is being filed with the FCC for the transfer of radio station WPFM-FM, Panama City, Florida from Powell Broadcasting, LLC to Educational Media Foundation.
The Seller, Powell Broadcasting, LLC, is a wholly-owned subsidiary of The Powell Group and owns radio stations in Panama City, Florida and Sioux City, Iowa.
The Buyer, Educational Media Foundation, is a not-for-profit organization based in Rocklin, California.
WPFM-FM operates at 107.9, with 54 kW at 1,266’ HAAT.
KALIL & CO., INC. is the exclusive broker for this transaction.
