In mid-August, Georgia Association of Broadcasters President Bob Houghton announced his retirement. This led the former President/CEO of Tri-State Communications, an ex-NAB Radio Board President, to step into the GAB post.
Now, he’s moved ahead with the sale of a group of radio stations he’d been associated with.
Randy Gravley has signed off on the sale by Tri-State of WLJA-FM 101.1, FM translator W229CE at 93.7 MHz, and WPGY-AM 1580 in Ellijay, Ga.; and FM translator W251CZ at 98.1 MHz in Jasper, Ga.
The buyer is Carriage Radio Inc., led by David Basha.
With Anthony T. Lepore serving as his legal counsel, Basha is moving ahead with a $1.5 million acquisition of the properties. The legal counsel for the seller is Mark Denbo of Smithwick & Belendiuk.
A $75,000 deposit has been made to Gravley’s group.
Serving as Gravley’s broker of record is Eddie Esserman of Media Services Group, while the escrow agent in this transaction is Jorgenson Broadcast Brokerage, the buyer’s broker.
Basha is associated with Gainesville, Ga.-based Carriage Auto Group, owner of Kia dealers in Woodstock and a forthcoming Alpharetta, Ga., location.
