In February 1980, the sale of WBFG-FM attracted national headlines. Doubleday was the buyer, paying a single-station high price record by agreeing to fork over $8.25 million to Trinity Broadcasting for the station.
That station is now WDZH “ALT 98.7” in Detroit. But, back in 1980, Doubleday rocked the market by debuting “Detroit’s WheeLLZ.”
Today, the WBFG calls belong to another station. And, that station is now in the news as it is being sold, but for a price not nearly as much as that 1980 deal.
The WBFG of today, a 6kw Class A “ESPN Radio” affiliate at 96.5 MHz in Parker’s Crossroads, Tenn., is being transferred from Crossroads Broadcasting to News Talk West Tennessee LLC.
The buyer is paying $500,000 for WBFG-FM, which reaches Lexington and Huntingdon, Tenn. due northeast of Jackson, Tenn.
A 10% downpayment has been made by NTWT. The remaining $450,000 is being honored by a Promissory Note, less the total amount of basic monthly fees paid pursuant to an LMA going into effect that gives the buyer control of WBFG prior to closing.
There is no broker or finder associated with this transaction.
News Talk West Tennessee is based in Jackson, Tenn., and is already using WBFG as a rimshot signal serving the city with localized spoken word programming in the mix.
Led by Daniel Reaves, NTWT saw the legal services of Davina Sashkin of Baker & Hostetler in this transaction.
