Albany FM sold out of bankruptcy

By on Sep, 3 2014 with Comments 0

SoldThe deal for WWVO-FM is pretty cut-and-dried for a distress sale, but that may partly be a function of the non-profit status of both the buyer and the seller. For those keeping score at home, this is the Albany in Georgia, not New York.

The seller is Lamad Ministries. C. William Eidenire signed the FCC application on the seller’s behalf.

The buyer is The Power Foundation, headed by John R. McClure.

The price will be $50K, with half of it paid in cash at closing and the other half coming pursuant to terms of a promissory note.

The station is a Class A on 90.7 MHz with 5.5 kW @ 305’. Despite its Albany city of license, its center of gravity is on the northwest side of the market.

Power is the owner of a 2-AM 12-FM radio group scattered mostly in the east, and all east of the Mississippi. It has three stations in Tennessee, two each in Alabama, North Carolina and Illinois, and one each in Arkansas, Connecticut, Georgia, Massachusetts and South Carolina,

About The Author: RBR+TVBR has been reporting on the business of broadcasting for nearly three decades. Beholden to no one, it is independently owned.

Comments are closed.