As of today, a 99-watt FM translator licensed to the Jacksonville suburb of Orange Park, Fla., serves as the simulcast partner of iHeartMedia‘s Spanish-language News/Talk “Acción 930,” fed from the HD2 signal of WKSL-FM.
Pending FCC approval, that will soon change. However, Hispanics of Mexican and Central American origin in the growing metro, home to a major U.S. Naval Air Station, will still be able to enjoy programming en español.
It’s thanks to a transaction that doesn’t involve the nation’s No. 1 owner of radio stations, but a licensee led by Nancy Epperson.
Epperson serves as President of Delmarva Educational Association, which has allowed iHeartMedia to lease W247CF at 97.3 MHz for its “Acción” format, also found in Central Florida and in Tampa Bay.
But, that arrangement is poised to conclude as Delmarva is selling the FM translator to Norsan Media, the regional owner of Hispanic stations across the Southeast led by CEO Norberto Sanchez.
Norsan is agreeing to pay $400,000 for W247CF, with a $20,000 escrow payment being held by Mark Jorgenson of Jorgenson Broadcast Brokerage. At closing $180,000 will be paid in cash. The remaining $200,000 will be honored by a Promissory Note bearing annual interest of 5%. It will be amortized over three years, with equal monthly payments of $5,994.18 agreed upon.
Serving as Norsan’s legal counsel in this transaction is John C. Trent of Putbrese, Hunsacker & Trent. Epperson’s legal counsel is Davina Sashkin of Wilkinson Barker Knauer LLP.
Upon closing, the primary station for W247CF will become WNNR-AM 970 in Jacksonville, the market home for Norsan’s regional Mexican “La Raza” format. The 97.3 MHz signal, best heard in the eastern portion of Jacksonville and its beach communities, will join W255BI at 92.5 MHz in Stockade, Fla.
“Acción” is believed to be remaining on AM 930 and WKSL’s HD2 signal.
