“America’s Coolest Hometown” is the official tag line for the city of Marion, Va., deep into the southwestern part of the state.
Along I-81 is the broadcast tower for a Class A FM that’s presently dark, and in distress. The entity that acquired this station in August 2017 can’t fulfill the terms set forth in that agreement. As such, it’s going back to the company that thought it had a sale in the bag.
In August 2017, Awaken FM acquired WZQY-FM 100.5 in Glade Spring, Va., from HB Radio, led by David Blair.
The terms of this agreement, which included a promissory note, were met until June 3, 2018, when Awaken FM lost the lease on its currently licensed tower site.
This led to an inability to fulfill the obligations of its original financing agreement and note.
As such, Awaken is seeking FCC authorization to cancel the $275,000 transaction, and return WZQY to Blair’s HB Radio.
The currently leased tower site is owned by SBA Communications of Boca Raton, Fla.
