PONTE VEDRA BEACH, FLA. — A Class C3 FM presently home to a Classic Country format simulcast on W262AG, explaining the “JAX Country 100.3” branding, is being sold to one of the largest operators of Hispanic-targeted audio content in the Southeast.
When the deal is done, this company will have no less than six brands superserving Spanish-speaking and Latino audiences in the Jacksonville market.
WSOS-FM 94.1 in Fruit Cove, Fla., serving greater Jacksonville from the south, is being acquired by Norsan Media.
The seller is Chesapeake-Portsmouth Broadcasting Corporation, led by President Nancy Epperson.
Terms call for Norsan to pay $1.6 million for the property, with an $80,000 cash deposit being held by escrow agent John C. Trent of Putbrese, Hunsacker & Trent. At closing, the group led by Natalia Alvarez de Sanchez (the daughter of Norsan founder Norberto Sanchez) will pay $420,000 in cash. The remaining $1.1 million will be honored by a Promissory Note.
Serving as Epperson’s legal counsel is Davina Sashkin with Wilkinson Barker Knauer LLP.
Chesapeake-Portsmouth’s broker of record in this transaction is Mark Jorgenson of Jorgenson Broadcast Brokerage.
What will Norsan do with WSOS-FM? That’s what many are likely asking, as the company’s brands in the market already are comprised of WJXR-FM “Latina 92.1”; WEWC-AM & WVOJ-FM plus an FM translator at 92.9 FM — all airing regional Mexican “La Raza”; reggaetón-fueled WYKB-FM “Flow 105.3”; Spanish Adult Contemporary “Romance,” based at WJNJ-AM and two FM translators; and “Top 20” ultrahits-focused WNNR-AM and W247CF “Top 97.3.”
