Big deal for EMF in Carolinas
Educational Media Foundation is making an investment in its portfolio that will bring in three FMs, two of which serve important Carolina media markets. Broker: Mark Jorgenson, Jorgenson Broadcast Brokerage (seller)
EMF will be getting:
WMHK-FM Columbia SC
WRCM-FM Wingate NC, serving Charlotte NC
WRZM-FM Boiling Springs NC, serving the area west of Charlotte and NE of Greenville-Spartanburg SC.
The seller is Columbia International University, which is Christian educational institution.
The price: $10.5M.
“CIU will be in a stronger position to focus on its core purpose of educating students from a biblical worldview to impact the nations with the message of Christ.” CIU President Dr. Bill Jones said. “Meanwhile, the radio stations will become part of an expanded outreach in the Carolinas with an owner who can continue their growth in the rapidly changing broadcast environment.”
EMF President and CEO Mike Novak commented, “K-LOVE has partnered with and been supportive of WMHK, WRCM, and WRZM for years and has seen their impact in the communities they serve. We look forward to working hard to continue the tradition, while bringing what we have to offer to listeners throughout the Carolinas.”
EMF is said to have 18M listeners tuned into one of its 450 stations in 48 states.