On November 14, RBR+TVBR first provided the details regarding a deal involving three FM stations and an AM sibling in Springfield, Ill., which sees Woodward Communications Inc. growing its holdings.
To close the deal to meet current FCC local ownership limits, a plan was put in place to divest WCVS-FM in Virden, Ill., with Tideline Partners signed on as the broker. A buyer has been found, and for recently acquired WIHN-FM 96.7 in Bloomington, Ill., too.
That buyer is Educational Media Foundation, the giant broadcast ministry that is home to Worship Music Air1 and Christian Contemporary Music noncomm network sibling KLOVE.
For $200,000, EMF is getting WCVS-FM. A $10,000 deposit has been made to Woodward.
In a concurrent filing with the FCC, Woodward is selling WIHN for an additional $200,000. A $10,000 deposit has been made.
Still awaiting a buyer is WWHX in Normal, Ill., which has been designated as a non-essential asset and is being divested.
