A pair of AM radio stations and two FM translators serving a small town along the St. John’s River, due south of Jacksonville, are being sold.
The buyer is locally based, and has formed a company named Blue Crab Broadcasting LLC.
Pending FCC approval, WIYD-AM 1260 and WPLK-AM 800 in Palatka, Fla., along with FM translators W252DL and W285FR, are to be transferred from Natkim Radio to the newly formed Blue Crab, led by Charles T. Douglas.
A $300,000 purchase price has been agreed to. Terms call for a $100,000 cash payment at closing, at which time a Promissory Note will be executed in the amount of $200,000. It will be amortized over 20 years at an interest rate of 5%. Principal and interest payments are to be made monthly.
Natkim’s legal counsel in this transaction is Aaron Shainis of Shainis & Peltzman, the M Street law firm in Washington, D.C.
Natkim is led by Charles Alford.
