Chris Bernier and Terry Shockley are expanding their small market radio group with a five-station acquisition on Michigan’s Upper Peninsula.
The duo’s acquisition company is AMC Partners LLC – related to Armada Media.
The seller is Lakes Radio Inc., headed by Thomas A. Koser.
The stations include WGLQ-FM/ WCHT-AM Escabana MI, WGKL-FM Gladstone MI, WCMM-FM and WTIQ-AM Manistique MI.
The price is $1,800,000. $800,000 will be paid in cash, and $1,000,000 will be paid via promissory note. It calls for annual interest-only payments of $30,000 on the first four closing anniversaries, and provides that the price be paid in full no later than the fifth.
The stations serve the central portion of the Upper Peninsula with varying degrees of efficiency and varying degrees of overlap. The AMs do not overlap each other at all, so the contour method essentially comes up with two 1-AM, 3 FM clusters.
WGLQ-FM is a Class C0 on 97.1 MHz with 100 kW @ 1,070’.
WCMM-FM is a Class C1 on 102.5 MHz with 100 kW @ 814’.
WGKL-FM is a Class C3 on 105.5 MHz with 10 kW @ 377’.
WTIQ-AM is a Class C on 1490 kHz with 1 kW-U, ND
WCHT-AM is a Class D on 600 kHz with 574 W-D, 134 W-N, DA
