If you’ve been under the impression that many of the media transactions seeking regulatory approval of late involve religious, non-commercial broadcasters, you now have two more deals involving radio non-comm operators to add to your list.
One of the deals is in Cleveland.
That’s where New Spirit Revival Center Ministries is agreeing to purchase WCCD-AM 1000 in Parma, Ohio.
WCCD is a Class D daytimer that must silence its 500-watt signal after dark to protect Class A WMVP-AM in Chicago, the onetime “Loop.” With 4 broadcast towers, WCCD, through representative Dior Morris of DTE and Associates, engineered the station’s sale to Dale Edwards’ DE Media LLC.
Edwards is located in Beachwood, Ohio, a Cleveland suburb, and he’s paying $500,000 for the station.
Yes — a 500-watt daytimer fetched a half-million dollars.
To pay for WCCD, Edwards signed off on a Promissory Note with 4% annual interest that will see 30 years’ worth of monthly payments at a value of $2,387.
If Edwards is to pay monthly for that entire duration, which is unlikely but a possibility, he would wind up paying $859,320 in today’s dollars.
Thus, while the total purchase price may seem high, the actual monthly payments amount to $28,644 for the right to have an AM radio station serving Cleveland during daylight hours.
Edwards is the owner of Gospel WABQ-AM 1460 and an FM translator at 94.7 MHz in Painesville, Ohio, due northeast of Cleveland, and R&B Oldies WKTX-AM 830 “The Drum” in Cortland, Ohio, serving Youngstown. WKTX also has an FM translator.
Could an FM translator be in WCCD’s future? While Gospel listeners in Northern Ohio ponder that possibility, the Academy of the Immaculate has signed off on the sale of Class A WPMW-FM 88.5 in Bayview, Mass., serving New Bedford; and co-channel WRRS-FM in Middleborough Centre, Mass. — a 60-watt Class A. They simulcast as “Radio Cormariae”
Included in the deal is Owego, N.Y.-based WHVM-FM 91.9, a Class A serving the slice of the Southern Tier that includes Sayre, Pa.
The buyer is The Station of the Cross Catholic Media Network owner Holy Family Communications, which used the legal services of Allan G. Moskowitz in this transaction. A $75,000 purchase price has been agreed upon.
