Magic Wand: JVC Expands Its Sunshine State Holdings

It’s a group of radio stations that have served Bay County, Fla., and the one-time Spring Break hub of Panama City Beach for decades. Pending FCC regulatory approval, these four FMs will become the newest properties associated with a media company led and founded by President/CEO John Caracciolo.

In an announcement distributed on Wednesday morning ahead of a LMS filing, Caracciolo-led JVC Broadcasting confirmed that it is acquiring Class C2 WILN-FM 105.9, Class C3 WWLY-FM 100.1, Class C3 WYOO-FM 101.1 (licensed to Springfield, Fla.), and Class C1 WYYX-FM 97.7 in Bonifay, Fla.

The seller? It is Magic Broadcasting II, associated with broadcast media veteran Don McCoy.

As JVC sees it, the purchase marks a “strategic expansion” that strengthens its presence in the Florida Panhandle and creates “a powerful synergy” with its Fort Walton Beach-Destin, Fla., properties due west via U.S. Highway 98 from Bay County. JVC at the close of 2020 agreed to buy Class C3 WECQ-FM 92.1 in Destin, Class C2 WWAV-FM 102.1 in Santa Rosa Beach, Class C1 WHWY-FM 98.1 in Holt, and Class C2 WZLB-FM 103.1 in Valparaiso, Fla. from Bruce Mittman and Jim Leven’s Community Broadcasting for $2,268,839.

Details including the amount of money Magic is pocketing from its exit from Panama City Beach was not disclosed by JVC and will appear in the LMS filing, which had not been made as of midday Wednesday, Central Time.

That said, JVC said the acquisition of the Bay County stations from Magic “underscores JVC’s mission to deliver live, local radio that speaks to the community—radio for Main Street, not Wall Street. With the addition of these stations, JVC is poised to offer even more locally programmed content, community-focused initiatives, and opportunities for small businesses to connect with listeners in meaningful ways.”

Caracciolo commented, “This isn’t a corporate merger. This is a local broadcaster investing in local communities. We believe in radio that serves the neighborhoods we live in, not just the bottom line.”

JVC Broadcasting will begin operating the stations immediately under a Time Brokerage Agreement.

John Griffo, who serves as Market Manager of JVC’s Fort Walton Beach operations, will assume leadership of the soon-to-be acquired Panama City stations. He commented, “This is an exciting new chapter for JVC and for radio in Northwest Florida. We don’t see it as just expanding- we see it as an opportunity to continue what we have already been doing in the Panhandle: focusing on the local listener being the true client by bringing high quality, engaging and fresh programming ideas to Panama City. I can’t wait to get started.”

Overseeing the programming efforts for the Panama City quartet is JVC Fort Walton Beach Director of Programming Matt Stone. “We’ve been doing it differently and local in Fort Walton, and now we’re bringing that same vibe to Panama City,” said Stone. “We’re out to make radio fun again—live, local, and actually about the people who live here.”

JVC also owns stations in the Gainesville-Ocala, Fla., market, and in Nassau-Suffolk, N.Y.

The Panama City stations prior to 2006 were associated with the former Styles Media Group, run by Tom and Kim DiBacco, now in the wine business.