A radio station ownership group co-created by Chad Graves and Scot MacDonald that is today comprised of six brands — including “The Mullet” — is ready to grow, thanks to a freshly signed asset purchase agreement that sees Kalil & Co. serve as the broker.
A contract has been signed and an application has been filed with the FCC seeking its approval for the transfer of Crossville, Tenn.-licensed WAEW-AM, WCSV-AM, WOWF-FM, WPBX-FM, W242DH and W249DA from PEG Broadcasting LLC, the company headed by Dawn and Reed Shaw.
The deal comes less than one year after Graves and MacDonald formed Main Street Media through earlier acquisitions involving PEG. And, it is another example of individuals involved in other industries investing more in Radio; MacDonald runs McMinnville Moving & Storage, while Atlanta-based Graves is a Partner in Bennett Thrasher’s Technology Services.
With John C. Trent of Putbrese, Hunsacker & Trent serving as the legal counsel in this transaction, PEG is set to collect $725,000 from the sale of the radio properties to Main Street.
A $50,000 escrow payment will be retained by Kalil & Co. as a services rendered payment. The remaining funds will be wired to PEG at closing.
The Crossville stations are poised to join WAKI-AM, WBMC-AM, WOWC-FM, WTRZ-FM, and translators W221ED, W249DQ and W299AE in McMinnville, Tenn.; and WSMT-AM & W288DO and WTZX-AM & W224DM in Sparta, Tenn. These stations were purchased from PEG in a February 2024 deal valued at $1 million.
