Salem buys into Greenville SC

By on Sep, 17 2012 with Comments 0

SoldWMUU-FM, a station with ties to Bob Jones University, is being sold to commercial religious leader Salem Communications. This is a territorial expansion rather than a consolidation deal. But it’s not the first move into Greenville for all Salem principals.

Salem proper has no other interests in the market, but Nancy A. Epperson’s Chesapeake Portsmouth Broadcasting Corporation is the owner of WPJF-AM there. However, she has a deal in the works to sell that station, so eventually WMUU will be the only station in the market connected to somebody named Epperson barring any future dealing.

The seller is WMUU Inc./Gospel Fellowship Association. GFA is linked to Bob Jones University and Bob Jones III is listed as a principal of the seller.

Salem is buying the station as Caron Broadcasting Inc. Its two executive mainstays are Stuart W. Epperson and Edward G. Atsinger III.

The price is $3M, with a $150K earnest money deposit, another $850K coming in cash at closing and a $2M note.

The station provides excellent market coverage with a full Class C signal on 94.5 MHz.
WPJF, a Greenville-only station on 1260 kHz by day and a small-section-of-NE-Greenville station by night, is being sold by Chesapeake-Portsmouth to Iglesia Nuevo Vida of High Point, headed by Javier Fernandez, for $200K. C-P is also donating a Norfolk-Virginia Beach-Newport News VA station to Iglesia, WRJR-AM Claremont VA.

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.

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