FORT PIERCE, FLA. — In Central Florida, the Holler family has become known for its automotive dealerships including Holler Honda in the Orlando market. Roger Holler is also known for his ownership of MARC Radio, which operates six radio brands in the Gainesville-Ocala market and three stations in the fast-growing Space Coast region between Titusville and Melbourne.
Now, MARC is adding a group of stations serving a portion of Florida between Sebastian and Stuart.
Three LMS filings indicate MARC Radio has agreed to purchase the following properties from Vero Beach Broadcasters:
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WTTB-AM 1490 and W298CF at 105.7 MHz in Vero Beach, branded as “NewsRadio”
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WGYL-FM 93.7 in Vero Beach, airing a Hot Adult Contemporary format
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Country WPHR-FM 94.7 in Gifford
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Adult Hits WJKD-FM 99.7 “Jack FM” in Vero Beach
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WOSN-FM 97.1 in Indian River Shores, with a gold-based Adult Contemporary presentation as “Ocean”. It is licensed to Treasure & Space Coast Radio but is commonly owned and operated with the other properties
With Anthony T. Lepore serving as the seller’s legal counsel, Mitchell Rubenstein signed off on the deal as President of VBB.
How much is MARC Radio paying to enter Market No. 98, which includes Fort Pierce, Stuart, Jensen Beach, Port St. Lucie and Vero Beach?
A $6 million deal is in the works, with a $200,000 escrow payment being held by Frank A. Hamner P.A.
That’s right on the money when it comes to the valuation one media broker who spoke with RBR+TVBR shared. “This is a good buy for them,” the broker said. “These are good facilities and it gives them a chance to compete effectively.”
Bob Heymann, Managing Director of Media Services Group‘s Chicago office, also chimed in. “This is a fair market price for an attractive cluster, given today’s environment,” he said.
At closing, $5 million in cash will be paid. The remaining $1 million will be honored by a Promissory Note bearing 6% interest. That is payable quarterly in $100,000 installments.
The note is risky: the sellers’ position in the Secured Promissory Note will be collateralized against a second lien on the assets, subordinate to no more than $4 million of bank financing if obtained by the buyer for this transaction.
According to BIA data for the market, the Vero Beach Broadcasting stations had roughly 30% of the radio revenue in the market. Of the $10 million seen in 2024 for Market No. 98, some 54% was attributed to iHeartMedia, which is the chief competitor to the stations MARC Radio is obtaining.
Serving as the seller’s broker is Mark Jorgenson of Jorgenson Broadcast Brokerage.
MARC Radio is also the owner of KGGR-AM in Dallas, acquired from Mortenson Broadcasting.
