To some, he’s remembered as the host of the syndicated Saturday evening Top 40 program “Open House Party.” In 2002, thanks in part to the success of the Boston-based show, he sold his Superadio syndication company to Chesley Maddox-Dorsey’s Access.1 Communications. From June 2012 through November 2021, he owned and operated four radio stations on Cape Cod.
Now, John Garabedian is reentering radio station ownership, thanks to the late Bob Bittner.
Bittner’s estate, in an asset sale agreement dated January 18, has signed off on the transfer of WJIB-AM 740 in Cambridge, Mass., a Class D facility, and FM translator W267CE at 101.3 MHz in Cambridge, to Garabedian-led RCRQ Inc.
An operations agreement for Bittner-associated’s WJTO-AM 730 in Bath, Me., is included in the transaction.
Together, these properties comprise “The Memories Station.” Pending FCC approval of the deal, programming will be up to Garabedian.
A $575,000 purchase price was struck by the parties. A $28,750 escrow payment has been made by Garabedian.
The deal also contains an intriguing caveat: Should Bittner change WJIB’s format without the approval of Garabedian, or incur new capital expenditure liabilities greater than $50,000, or hire additional personnel at a cost higher than $25,000 per year between now and closing, Garabedian reserves the right to scrap the agreement to purchase the properties.
Serving as the Bittner estate’s broker in this transaction is Sun Signals LLC, owned by Dennis Jackson.
The Bittner estate’s attorney in this transaction in Allan G. Moskowitz; the legal counsel representing Garabedian is Aaron Shainis of Shainis & Peltzman.
Bittner died in May 2023.
Garabedian will have fun with these stations…as these smaller facilities return to being a hobby. He’s got a ton of energy and they will be fun stations to listen to! Good hunting John…
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