In a quiet day for transactions, an AM/FM combo in Kentucky are heading to new owners. The sellers are making a nice profit from the deal, after acquiring the stations some 4 1/2 years ago.
In early August 2016, four Tyler-Longview, Tex., stations suddenly ceased operations, following the owner’s death. Now, the stations are set to come back to life, thanks to a deal with “results” in its name. Meanwhile, Minnesota Public Media has closed on its acquisition of a Red Rock FM in a deal that saw Kalil & Co. as the exclusive broker. Those are the key deals in RBR + TVBR’s TRANSACTIONS TODAY for Tuesday, May 16.
One of the nation's leading media companies serving Spanish-language consumers has scored a Class A television station in Central Florida. It's unclear how the company plans to use the facility, as its owns one property there but sees it and another property its linked to operated by Entravision Communications via an LMA agreement.
The Mike Novak-led Educational Media Foundation, one of the most prolific buyers of FM stations in recent months, is at it again. This time, it’s acquiring a Class A facility in Northern Virginia from the man who holds a majority stake in the Washington Redskins. Meanwhile, a Texas nonprofit has sold a pair of noncommercial FM stations to another Lone Star State noncomm entity, as "NV89" gets a boost in the Silver State's capital city.
A trio of radio stations in New Hampshire is being sold to a longtime engineer and broadcaster in the Granite State. Richard A. Foreman Associates advised the seller on the deal, which involves a company with the same name of a North Carolina operator that made headlines this week.
Big Al and the Crimson Tide just gained another FM home to add to their stable in Tuscaloosa. On Maryland's Eastern Shore, an unbuilt LPTV facility is heading to an entity affiliated with the company that's acquiring Saga Communications' television stations. And, Educational Media Foundation is at it again, with another transaction being consummated by the religious noncomm giant. These are the deals featured in RBR+TVBR's TRANSACTIONS TODAY for Friday, May 12.
On May 1, Route 66 Media acquired two construction permits in Northwest Texas, as owner Gary Ware invested just $10,000 to create a three-station group. Now, his company is bringing in a fourth station—also for a bargain-basement price. Meanwhile, JLE Inc. has closed on a “home team” pair in Bayou Country. Those are the key deals featured in RBR+TVBR’s TRANSACTIONS TODAY for Thursday, May 11.
In a transaction that has yet to be officially posted by the FCC, a Class B AM in the Chicago suburb of Evanston, Ill., has been sold for $3 million. The deal was brokered by Dick Foreman of Richard A. Foreman Associates.
Saga Communications on Wednesday bid farewell to TV station ownership. But, in doing so, it doubled-down on its core business: radio. In a deal that sees it using roughly one-third of the proceeds from its TV industry exit, Saga has agreed to acquire the seven FM stations, one AM and four translators owned by Apex Media Corp., which exits the business.
Confirming rumors that a deal was imminent, Emmis Communications has agreed to sell its CHR/Rhythmic KPWR-FM 105.9 "Power 106" in Los Angeles to an affiliate of the Meruelo Group for $82.75 million.
During the 1980s, WLIR-FM in Garden City, N.Y., was the New York metropolitan area's equivalent of KROQ-FM in Los Angeles. As the only home for "new wave" and "modern rock," WLIR carved a unique niche in the Nassau-Suffolk market before becoming WDRE. Today, the WLIR call letters belong to a Class A at 107.1 MHz in the far eastern end of Long Island, in the city of Hampton Bays, N.Y. This WLIR has just been sold.
Fibbing to the Commission as to what station an FM translator will rebroadcast could cost you a pretty penny. For Juan Alberto Ayala and Elohim Group Corp., the penalty is $30,000.
A radio station known as "Y-100" has just been sold. Don't fret, San Antonio or South Florida. This "Y-100" is in rural southwestern Virginia. Meanwhile, a Class C1 facility serving both Albuquerque and Santa Fe with fine arts programming is shifting from commercial to noncommercial status in an effort to preserve its long-running Classical format. These are the deals featured in RBR + TVBR's TRANSACTIONS TODAY for May 5, 2017.
An FM translator that's moving from the San Joaquin Valley city of Woodlake, Calif., to the heart of Southern California is trading hands in a deal involving a husband and wife who will be giving Korean-Americans on L.A.'s Westside another way to get some "Seoul."
Curtis Media Group has closed on its $11 million acquisition of a six-station cluster in the Greenville-New Bern, N.C., market from Beasley Broadcast Group. Michael J. Bergner of Bergner & Co. was the exclusive broker in this transaction.