As 2014 came to a close, Salem Media Group agreed to purchase an FM translator in the Greenville-Spartanburg market for $185,000 from Tugart Properties. Now, the publicly traded licensee of radio stations across the U.S. is selling the facility.
The buyer? It’s a regional Hispanic media company that’s on a growth spurt.
Salem on June 4 signed off on an asset sale agreement that will place W275BJ at 102.9 MHz in Greenville, S.C., in the hands of Norsan Media.
The transaction comes after a May 1 Translator Airtime Agreement that allowed Norsan to assume control of the facility, which rebroadcasts a HD subchannel associated with WROQ-FM and is branded as “Kaliente 102.9.”
For Salem, it is making a profit on the sale of the FM translator, as Norsan is purchasing it for $325,000.
A $50,000 deposit is being held by Jorgenson Broadcast Brokerage, as escrow agent.
The sale of W275BJ concludes Salem’s ownership of radio stations in the Greenville-Spartanburg market.
