It’s a 1,000-watt AM at 1490 kHz with 1 tower covering the city of Jasper, Ga., to the far north of metropolitan Atlanta.
And, it is being acquired by a Gorilla. Sort of.
KRMA Media Group is agreeing to sell WYYZ-AM to Gorilla Broadcasting ATL LLC, an entity led by Steven Lara.
Lara is also obtaining KRMA’s option to purchase the FM translator it is leasing — W273CT in Canton, Ga. — from non-secular broadcaster Radio by Grace. And, it is immediately acting on that option by filing a separate agreement to grab that property.
A $240,000 purchase price has been agreed to for WYYZ. Terms call for a $110,000 cash payment due at closing; the remaining $130,000 will be honored in a negotiable Promissory Note.
For W273CT, a $5,742.12 purchase price was agreed upon. All of the funds are being held by TitleFact, serving as escrow agent.
At present, WYYZ is silent. KRMA is removing the station’s tower from its current site, and it tells the FCC that “all necessary steps will be taken to assure that the tower is in as good a shape as possible for erecting of the tower at the new location.”
It will be Lara’s responsibility to transport the tower pieces to the new site. At closing, he’ll assume all responsibility for seeking approval from local authorities for use of any new transmitter for the operation of the station; FCC approval for operation of WYYZ at a new transmitter site; and construction of WYYZ-AM at any site approved by the FCC and local authorities.
There are two brokers in this transaction: Beth Griffin and Griffin Media Services, whose fee is to be paid by the seller, and George Kimble and Kozacko Media Services, whose fee is to be paid by the buyer.
