A non-profit FM station in Indiana that looks and feels very much like a commercial station is going to a new licensee. Seller financing is a big part of the compensation package.
The station is WIRE-FM, licensed to Lebanon IN.
WIRE is a Class A on 91.1 MHz with 3.2 kW @ 210’. It serves ab area just northwest of Indianapolis, gets part of it with outer contours.
The seller is Hoosier Broadcasting Corporation, headed by William S. Poorman.
The buyer is Community Radio Partners, headed by President Brent Lee and VP/sec. Randy Lawson.
The price will be $205,000. A $20,000 deposit is already in an escrow account. The buyer will pay an additional $35,000 in cash at closing and strike a $150,000 promissory note for the remaining $150,000, payable at $2,500 per month over the course of five years.
The station is known as RadioMom and mixes music from now back to the 80s with local news, weather and high school sports. Its website has the look and feel of a commercial station, with the notable exception that it mentions not advertising, but marketing goods and services via underwriting.
It pitches a reach of 7,400 Boone County residents, and says, “With RadioMom, your underwriting dollars will be reaching and cost effectively a greater number of people in your primary market area, This means no waste in your marketing dollars due to RadioMom’s concentration in & around Boone County.”
Lee owns 51% and Lawson 49% of WRBI-FM Batesville IN. It’s a Class A on 103.9 MHz with 1.95 kW @ 361. It serves unrated territory to the west of Cincinnati.
