An LMA To Buy Move For Steve Hegwood

If at first you don’t succeed, why not try again? That’s exactly what Steve Hegwood has done with his plan to own — and operate — a 6kw Class A FM that must protect Class B WRXL in Richmond.

He’s filed paperwork with the FCC seeking its approval to allow him to own the “Streetz” of the Tidewater region.

Core Radio Group of VA, led by Hegwood, has signed off on a second amended purchase agreement dated December 4 for WXTG-FM 102.1 in Virginia Beach.

Core is paying $550,000, and a $200,000 deposit has already been made to the seller, Davis Media LLC, associated with Williamsburg-based Local Daily Media and its Adam Crotty.

For Core, it is a conversion to ownership of WXTG from a Time Brokerage Agreement agreed upon in July 2020, one month before the parties originally agreed to a sale. That transaction did not close.

WXTG is a simulcast partner with “FM6” service WMTO-LD in Norfolk and operate under Hegwood’s “Streetz” brand.

The seller’s legal counsel in this transaction is Brad Deutsch of Foster Garvey. He was recently featured in the RBR+TVBR Fall 2023 magazine.