A Class A radio station offering Adult Contemporary music to a rural area of the Volunteer State due east of Jackson is trading hands. What could this mean for listeners of “Sunny 106.5?”
That will likely be a question for Will Nunley to answer, as his Nunley Media West Tennessee has signed an asset purchase agreement that, pending FCC approval, will make it the owner of WLVS-FM in Clifton, Tenn.
The station is being sold by Gold Coast Broadcasting Company, led by Jerry Phillips.
With Dawn Sciarrino of Sciarrino & Shubert PLLC serving as the legal representative for the parties, paperwork was submitted in the Commission’s LMS on Monday (1/27).
A $200,000 purchase price has been agreed upon. But, there’s more: it also includes an accrued balance due under a prior Lease Management Agreement, totaling $86,829.74, as of May 24, 2023, to be updated at closing.
Monthly installment payments under a Promissory Note have been agreed to; the note carries an annual interest rate of 4.5%, and is payable over a 10-year period.
There is no broker or finder associated with this transaction.
