A Class D AM with 2.5kw during daylight hours and 1kw at night from a tower just above State Line Road, on the Tennessee side of the border with Alabama, has just been sold.
The buyer is a Florence, Ala., broadcasting company led by Michael Brandt.
The station being traded is WSLV-AM 1110 in Ardmore, Tenn., which must power down at night to protect WBT-AM 1110 in Charlotte.
It’s being spun, along with FM translator W286DF, by Brandt’s Southern Broadcasting Corp. from Russell L. Leonard.
The sale price is $210,000.
A $2,500 escrow deposit is being held by Richard C. Parrish, the Latrobe, Pa., based broker of record in this deal.
A Promissory Note in the value of $207,500 has been drafted and will be honored with an annual interest rate of 11.3%, payable in monthly $2,500 installments over seven years.
WSLV and W286DF will become Southern Broadcasting’s first owned media properties. It presently brokers time on WYDL in Middletown, Tenn.; WWGM in Selmer, Tenn.; and WWFA in St. Florian, Ala.
