Update 2/24: MARC Radio Group will pay $9 million for the Hall Communications cluster in Lakeland FL.
Included in the purchase are Country 97.5 WPCV Winter Haven, Variety Hits “Max” 1230 WONN/95.9 W240DB/107.1 W296CS Lakeland and Conservative Talk 1430 WLKF/96.7 W244BJ Lakeland.
The deal is structured with a $400,000 down payment, $7.6 million due at closing, and the final $1 million in a secured promissory note paid over 24 months with a balloon payment at the end.
MARC Radio will begin to operate the Lakeland cluster via LMA on Monday, March 2. Also included in the deal is a five year non-compete against Hall, its directors, and certain officers of the company at any station which overlaps the contours of the stations.
Original Report 2/12: Days after closing on its $6 million purchase of Treasure Coast Radio’s properties in Vero Beach FL, MARC Radio Group continues its growth in Florida with the acquisition of Hall Communications’ properties in Lakeland FL.
Terms of the deal have not yet been filed. MARC Radio Group will acquire Country 97.5 WPCV Winter Haven, Variety Hits “Max” 1230 WONN/95.9 W240DB/107.1 W296CS Lakeland and Conservative Talk 1430 WLKF/96.7 W244BJ Lakeland.
The deal follows Hall’s $4.25 million sale of 98.3 WWRZ Fort Meade to Radio Training Network last July.
MARC Chief Revenue Officer Scott Miller said, “97 Country WPCV is a terrific station. You don’t mess with success.” In addition to its recent acquisition in Vero Beach, Marc Radio owns clusters in Gainesville and Melbourne FL as well as standalone Christian properties in Orlando and Dallas TX.
Hall retains its properties in Burlington VT, Norwich/New London CT, and Providence RI.
