RoRo Investments has agreed to sell Country “Kick’n 103.5” WKNK Callaway and Variety Hits “105.1 Bob-FM” WASJ Panama City Beach FL to Tallahassee based Faith Radio Network for $700,000.
A Time Brokerage Agreement will take effect on or around Monday, March 10 at which point WASJ will flip to the buyer’s English language “Faith Radio” Christian Preaching network and WKNK will become Spanish Christian “Radio Fe“. The networks are currently heard in Panama City on Faith Radio’s 1290 WPCF/93.1 W226CJ and 1430 WLTG/101.7 W269DR respectively.
The sales mark the completion of the divestments of the former four station Powell Broadcasting cluster to non-commercial Christian buyers over the past few years. Powell sold the former CHR “Hot 107.9” WPFM to EMF in September 2018 for $472,000. After sustaining “catastrophic damage” to its facility from Hurricane Michael in October 2018, Powell sold its three remaining stations to Samuel Rogatinsky’s Gulf Coast Broadcasting that December for $325,000. The three stations were flipped to Aaron Lee’s Great American Broadcasting in July 2019 for $700,000 and then to Roberta Fagan’s RoRo Investments in May 2022 for just $180,000. RoRo sold the former Classic Hits “B95.9” WRBA Springfield to Radio Training Network for its Christian AC “The Joy-FM” network last August for $225,000 with the station going silent last month to build out the station’s new transmission facilities.
As part of the LMA, WASJ is contractually required to continue to run two minutes per-hour of the barter advertising as part of the “Bob FM” licensing agreement through July 10, 2025 unless mutually agreed to terminate earlier.
