A “Twin” operator in an area of America known for its wild horses has officially moved ahead with its previously announced plan to acquire, in two deals, a pair of Class A FMs.
As RBR + TVBR reported on Feb. 27, Twin Islands Media Group, whose principals include Bohn Broadcast Services President and Chief Engineer Josh Bohn, is purchasing WCTG-FM 96.5 and WOWZ-FM 101.5 in Chincoteague Island, Virginia, from two different owners.
On Friday (3/17), asset purchase agreements reflecting each deal were filed with the FCC.
WCTG’s seller is Sebago Broadcasting. WOWZ is being sold by Jackman Holdings. However, both stations are currently operated under a Local Marketing Agreement with GSB Broadcasting.
The purchase price for WCTG is $225,000; a $15,000 deposit has been made with Sebago’s escrow agent, Gammon and Grange PC.
At the same time, Twin Islands is acquiring WOWZ for $110,000. A $15,000 deposit for this station has also been made to Gammon and Grange PC, acting as escrow agent.
Starting April 1 and until closing, Twin Islands will operate WCTG and WOWZ under individual Time Brokerage Agreements.
There were no brokers involved in these deals.
