It’s now known to some as Florida’s “Nature Coast,” and is a rapidly growing area due north of Tampa and west of Ocala. Pending FCC approval, it will also be the home of the latest radio stations owned by a rapidly growing licensee based in Winter Park, Fla.
That’s thanks to a transaction just filed for regulatory approval that sees Mark Jorgenson of Jorgenson Broadcast Brokerage act on the seller’s behalf.
MARC Media Group, the organization created by the family of late Central Florida automotive dealer Roger Holler, has struck a deal to acquire five radio stations from WGUL-FM Inc.
- Class C3 WGHR-FM 106.3 in Spring Hill, Fla.
- Class A WXCV-FM “Citrus 95.3” in Homosassa Springs, Fla., plus simulcast partners Class C2 WXCZ-FM 103.3 in Cedar Key, Fla., and Class C3 WXZC-FM 104.3 in Inglis, Fla.
- Class C3 WXOF-FM 96.7 “The Fox” in Yankeetown, Fla.
They’ll be licensed to “MARC Radio Nature Coast LLC.” A $2.5 million purchase price has been agreed upon by the parties, with a $100,000 escrow deposit being held by Frank A. Hamner P.A. Subsequent payments will see MARC make an additional $400,000 payment at closing, and then execute a secured Promissory Note in the amount of $1.5 million bearing 6% annual interest.
The deal terms also see MARC delivering to WGUL-FM Inc. up to $500,000 in conditional performance-based cash payments over the five-year period following closing. Specifically, on the yearly anniversary of each of the five years following the closing date, MARC will make a cash payment to WGUL-FM INc. of an amount equal to 20% of the Net Collections of the stations that exceeds the Net Collections of the seller during calendar year 2025.
Signing off on the deal on September 1 and submitted for regulatory approval on Wednesday (9/16) are MARC Media Group CEO Roger Holler III and, for the seller, President Steve Schurdell.
Commenting on the company’s latest purchase, following deals in the Lakeland-Winter Haven, Melbourne-Cocoa, and Vero Beach-Stuart-Port St. Lucie markets, MARC Media Group Chief Operating Officer Scott Miller said the company “is continuing on our path to identify and secure stations that are market adjacent to metropolitan areas that we’ve identified as primed for growth. The recent completion of Florida Turnpike’s new Suncoast Parkway now links three strategic access roads north of Tampa that are already spurring residential and commercial growth along both its existing and even its planned phases … When opportunity knocks, you answer. Some may refer to our
purchases as secondary markets. We prefer to call them our future.”
Mark Denbo of Smithwick & Belendiuk served as the seller’s legal representative in this transaction. Acting as MARC legal counsel in this filing is John C. Trent of Putbrese, Hunsacker & Trent.
MARC Media Group’s holdings are comprised of 27 radio stations in Florida and Texas, in addition to two local news organizations, outdoor advertising and a multi-faceted digital marketing agency.
