Yet another asset purchase agreement has been signed that, pending FCC approval, will put ownership of an AM, an FM and an FM translator serving a tiny South Carolina city due north of Augusta, Ga., in the hands of a not-for-profit broadcast ministry.
It’s Good News, no pun intended, for the buyer.
That would be the Clarence Barinowski-helmed Augusta Radio Fellowship Institute, parent of Good News Network (GNN Radio).
GNN Radio broadcasts via satellite to 25 English-speaking affiliates, while Hispanic consumer-targeted Radio Amistad broadcasts to six affiliates spread throughout Georgia, South Carolina, North Carolina and Alabama.
Soon, “solid, Biblical teaching to share the Good News of Jesus Christ” will be coming to Greenwood, S.C., as the institute has agreed to purchase WZSN-FM 103.5, WCZZ-AM 1090 and W274CC at 102.7.
An $800,000 purchase price was agreed upon between the buyer and seller, Broomfield Broadcasting. A $20,000 deposit has been made by the GNN Radio parent and is being held by John C. Trent of Putbrese, Hunsacker & Trent.
Serving as the buyer’s legal counsel in this deal is Jeffrey Southmayd of Southmayd & Miller of Palm Coast, Fla.
Upon closing, WZSN is expected to end its “Sunny 103.5” Adult Contemporary format, while WCZZ and its FM translator offer an Adult R&B format at “Magic 102.7.” The latter format is also expect to disappear.
The Broomfield stations are the only locally based commercially licensed stations in Greenwood, S.C., aside from News/Talk WCRS-AM and FM translator W253BL at 98.5 MHz. Otherwise, stations from Anderson-Greenville-Spartanburg, to the north, serve Greenwood.
