A Class A FM serving the city that’s home to Penn State University has just been sold to the Kentucky-headquartered radio station licensee that has amassed a formidable collection of broadcast properties across the Keystone State.
Kristin Cantrell-led Seven Mountains Media has struck an agreement to purchase WFXS-FM 98.7 in Pleasant Gap, Pa., from SkyWave Broadcasting.
WFXS has had a tumultuous history and is presently using its 13th set of call letters since 1995. Tied to that bumpy ride is the inability by SkyWave to honor a $275,000 Promissory Note that gave it control of WFXS (formerly WLEJ-FM) from Covenant Communications.
Covenant assigned that Promissory Note to Seven Mountains Media in September 2023. As such, this fresh agreement effectively unwinds SkyWave’s purchase of WFXS. At closing, all unpaid monthly rent due will be cancelled by Seven Mountains.
SkyWave is led by Sabatino Cupelli. If that name is familiar, it is because earlier this month he agreed to acquire WHAT-AM & W260CZ at 99.9 MHz in Philadelphia for $75,000 through a different licensee.
