On May 15, RBR+TVBR reported on the sale of a Class A FM in State College, Pa., by Covenant Communications, led by 7 Mountains Media Chief Operations Officer Jim Loftus.
Now, Loftus is saying goodbye to another FM located in the city that is home to Penn State University. This time, however, it involves a facilities swap with the second-largest licensee of FM radio stations in the U.S.
Covenant is trading Class A WNLI-FM 94.5 in State College to Educational Media Foundation in exchange of 10-watt W296CD in Jonestown, Pa., at 107.1 MHz, and $200,000.
The FM translator is between Bloomsburg and Wilkes-Barre, and could end up being used to give a 7 Mountains Media property in the Scranton market a boost.
For EMF, it gains a facility that covers Howard and Bellefonte, in addition to State College.
A $10,000 deposit is being held for Loftus by Robert F. Wright Jr.
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