Yes, we are having a little fun with Shakespeare and the words of Polonius in “Hamlet” – the way we twisted them refers to Mount Wilson FM leader Saul Levine, who just bought a station and is now selling one. Broker: The Exline Company (seller)
The sale involves KGIL-FM Johannesburg CA.
Mount Wilson just announced the $50,000 acquisition of KIDD-AM Monterey CA, a deal which marked the end of esteemed radio group Buckley Communications.
The buyer is Adelman Broadcasting Inc., headed by President Robert D. Adelman.
The price is $110,000. An escrow deposit of $15,000 will go to the seller and constitute the cash portion of the compensation package. The remaining $95,000 will be paid via promissory note at the rate of $2,500K plus interest per month.
The parties spelled out the allocation of the purchase price. $80K was for the FCC licenses; $25K for personal tangible assets, $1K for intangible assets; $1K for public files, logs and business records; and $3K for goodwill.
KGIL-FM is a Class A on 98.5 MHz with 340 W @ 1,368’. The station serves unrated territory well to the east of Bakersfield.
KGIL is currently rebroadcasting programming from KKGO-FM Los Angeles, and the programming and other attributes of KKGO are excluded assets.
Adelman already owns KRAJ-FM in Johannesburg, and the two stations there will have overlap with four stations located in Ridgecrest to the north. The Ridgecrest stations include KEPD-FM, KLOA-AM, KWDJ-AM & KZIQ-FM.
