ZGS Spins Tampa AM
WAMA Inc. has an agreement to sell a Florida AM asset.
WAMA is licensed to Tampa.
Q Broadcasting Corp. is the buyer. George and Esperanza Arroyo have 76% and 24% of the equity respectively.
WAMA parent ZGS Communications Inc. has an attributable ownership interest in 14 other stations and an FM translator.
The price is $550,000. The buyer was to make a $27,500 deposit to be placed in escrow and pay the remaining $522,500 at closing by wire transfer.
The Arroyo’s are also the licensees of Florida AMs WONQ(AM), Oviedo and WRMQ(AM), Altamonte Springs.
George Arroyo, as an individual, is the license of WPSP(AM), Royal Palm Beach, Florida.