A Class A FM serving small agricultural communities in Georgia that have attracted first-generation Hispanics has been targeting this immigrant community with regional Mexican programming as “El Gallo” under a lease management agreement with its owner.
Now, this LMA is being converted into an outright purchase.
Steven Lara and his Gorilla Broadcasting has struck an agreement to acquire WLEL-FM 94.3 in Ellaville, Ga., serving cities including Americus and Montezuma, due east of Columbus, Ga.
Gorilla entered into a Time Brokerage Agreement with WLEL owner Summer Rose Broadcasting in August 2021, prepared by Scott Edinger of Edinger Associates PLLC. That arrangement saw Gorilla pay $60,000 to Summer Rose for the right to use the station for “El Gallo.” Terms called for Gorilla to operate WLEL under the TBA through August 2026.
Importantly, that pact including a call option, giving Gorilla the option to put the initial payment plus time brokerage fees toward the $200,000 purchase of WLEL. Those time brokerage fees are $1,666.67 per month — totaling $160,000 through the TBA’s total term.
Now, Summer Rose Jaynes, who is the administratrix of the estate of Roy William Jaynes, the now-deceased former owner of WLEL, has signed off on paperwork indicating that Lara has accelerated the payments and will now be taking full ownership of the station.
Serving as Lara’s legal counsel is the Law Office of James L. Oyster.
Lara’s Gorilla Broadcasting is also the owner of WNMB-AM 900 in Myrtle Beach, S.C., and three FM translators, branded as “El Gallo 102.3.”
