In July 2023, RBR+TVBR first reported on the sale of a Class C3 FM licensed to High Springs, Fla., that today airs a “Hot Talk” format targeting men between Gainesville and western portions of Jacksonville.
It is now known that the announced sale has not transpired.
What does this mean for John Caracciolo and JVC Broadcasting?
A new buyer could now be sought for WYGC-FM 104.9, which serves the northern portion of the Gainesville-Ocala market.
With Francisco Montero of Fletcher, Heald & Hildreth as JVC’s legal counsel and Michael J. Bergner acting as the media broker in the transaction, WYGC had been intended to be purchased by K-LOVE Inc.
That’s the Christian Contemporary Music giant that owns the noncommercial K-LOVE and Air1 Networks, and the nonconsummation notice comes after a period in which extension of consummations were filed with the Commission as a silent STA allowed WYGC to go dark between January and December 2014.
No explanation was offered as to why K-LOVE didn’t complete the proposed deal, which would have seen the non-profit broadcast ministry relocate WYGC to a tower in Dukes, Fla., operated by American Tower LLC.
A $454,235 price had been agreed to; a $68,135.25 deposit was held in escrow by Bergner.
RBR+TVBR contacted Bergner for additional insight into the nonconsummation. In an emailed response, he said that there was a disagreement between “what was delivered” and the terms of building a new facility at the American Tower site.
