![Gordon Ackley, shown in April 2024 [Courtesy: WTJX]](https://rbr.com/wp-content/uploads/courtesy-WTJX-e1736824832216.webp "courtesy WTJX")
On May 3, 2024, Gordon Ackley resigned as the Chairman of the Republican Party in the U.S. Virgin Islands. The reason? To support his aging father, who lived elsewhere. Now, Ackley is moving forward with the sale of two FM radio stations he owns in the territory.
Class B1 WWKS-FM 96.1 in Charlotte Amalie, St. Thomas, and Class B sibling WVJZ-FM 105.3 in the hub of the bustling island, are being sold by Ackley’s GARK LLC to Vic Web Radio LLC. So is W276CH in Frederiksted, St. Croix, which simulcasts WVJZ.
The buyer is a California-based limited liability company led by Victor Webster.
With Mark Balkin of Hardy Carey Chautin & Balkin serving as the buyer’s legal counsel, the parties agreed to an asset purchase agreement in the amount of $450,000.
Terms call for the buyer to assume the tower lease with Boca Raton, Fla.-based SBA.
At closing, Webster will pay Ackley $5,357.38 — plus 50% of the accounts receivable via wire transfer. The balance will be paid via wire transfer in 83 equal monthly installments of $5357.14, commencing on the first day of the first calendar month following the closing date through a Promissory Note.
Ackley has been the sole owner of GARK LLC since April 2006, when he acquired the 50% interest held by Randolph Knight.
