KEY WEST, FLA. — A 100kw Country station serving the “capital” of the Conch Republic is being sold by Bob Holladay. It marks the end of a decade of ownership by Holladay’s group for the station.
Who’s the buyer?
Look no further than Michelle Weil, who resides in the Charlotte County hub of Punta Gorda, Fla.
For $200,000, her Keys County Media LLC is agreeing to purchase WCNK-FM 98.7 “Conch Country.”
Terms call for a Promissory Note to be delivered to Holladay’s Florida Keys Media LLC at closing, in the full purchase price amount. Note terms call for monthly payments across a 10-year term, with 5.3% interest. A balloon payment of $125,842.18 is due after 120 months of equal payments of $1,353.28.
There is no broker or finder in this transaction, which sees David Burns of Lerman Senter serve as Holladay’s legal representative.
Holladay in November 2013 agreed to purchase WCNK along with WWUS-FM in Big Pine Key, Fla., from Bruce Danziger’s Gamma Broadcasting for $425,000 in an all-cash arrangement.
