Steve Chessare’s Coxswain Communications will pay $3.2 million for Codcomm’s four FMs and three translators on Cape Cod.
Original Report 9/27: John Garabedian is selling Codcomm Inc’s cluster of stations on Cape Cod in Massachusetts to Steve Chessare’s Coxswain Communications.
Terms of the deal were not yet disclosed. Coxswain will acquire Variety Hits “93.5/94.7 Frank-FM” WFRQ Harwich Port/W234DP Hyannis, Soft AC “Koffee-FM” 101.5 WKFY East Harwich/100.5 W263CU Hyannis/103.5 W278DW Vineyard Haven, CHR “Y101” 101.1 WHYA Mashpee, and Classic Rock “Pixy 103” 102.9 WPXC Hyannis.
Chessare most recently served as Market President for Townsquare Media’s Princeton NJ holdings including CHR 94.5 WPST Trenton. He has also served as Market Manager for Cumulus Media Bridgeport CT and Greater Media Detroit, was was SVP/Sales for Westwood One and spent a decade as General Sales Manager for AC “106.7 Lite-FM” WLTW New York.
Garabedian will be focusing full-time on the growth of his Jamchannel LLC, which produces the syndicated CHR night show “Party Liveline” hosted by Mason Kelter.
This is to announce that a contract has been signed and an application is being filed with the FCC for the transfer of Cape Cod radio stations: WFRQ(FM), Harwich Port; WHYA(FM), Mashpee; WPXC(FM), Hyannis; WKFY(FM), East Harwich; W278DW, Vineyard Haven; W263CU, Hyannis; and W234DP, Hyannis, from Codcomm, Inc. to Coxswain Communications, Inc. for $3,200,000.
The Seller, Codcomm, Inc., is a Massachusetts-based company headed by John Garabedian. John will be focusing full-time on the growth of Jamchannel, LLC, producer of the national Top 40 Night show “Party Liveline”.
The Buyer, Coxswain Communications, Inc., is a Massachusetts-based company headed by Steve Chessare. This is Coxswain’s first acquisition. Steve said, “We are extremely honored to join this great group of professionals who have made these brands such a huge part of life on Cape Cod and the Islands. We are excited to continue to engage with and support the communities that make up this uniquely beautiful part of New England and America. “
WFRQ(FM) operates at 93.5 MHz, with 6.0 kW at 254’ HAAT. WHYA(FM) operates at 101.1 MHz, with 2.9 kW at 464’ HAAT. WPXC(FM) operates 102.9 MHz, with 6.8 kW at 472” HAAT. WKFY(FM) operates at 101.5 MHz, with 6.0 kW at 285’ HAAT. W278DW operates at 103.5 MHz, with 0.25 kW at 436’ HAAT. W263CU operates at 100.5 MHz, with 0.25 kW at 472’ HAAT. W234DP operates at 94.7 MHz, with 0.16 kW at 436’ HAAT.
KALIL & CO., INC. is the exclusive broker for this transaction.
