Since 1946, Pennsylvania’s Lebanon Valley has been home to a radio station that, today with its FM partner, wants to play “a telling part in all local, civic and public affairs.”
Soon, fulfilling this longtime mission statement for the Full Service Class B facility and its Class A AC sibling will be the responsibility of a statewide operator led by Lynn Deppen.
Beginning in 1946 in downtown Lebanon, Pa. and since its move to Ebenezer in 1950, WLBR-AM 1270 and WQIC-FM 100.1 — which debuted in February 1948 — have provided local, loyal listeners with national and local news, music, talk as well as educational, cultural, political and religious programs.
“For over seven decades, we have strived to be the Lebanon Valley’s only full service radio station,” says the stations’ current owner, Lestette Corp. and Lebanon Broadcasting Co.
Pending FCC approval, WLBR-AM and WQIC-FM will become the latest stations to become part of the Forever Media family.
An asset purchase agreement dated August 19 was filed with the Commission late Friday. In the Form 314 filing, it is stated that the two stations will be sold to Forever for $1.225 million.
Terms call for Forever to immediately pay $225,000; a $50,000 earnest money deposit is included. The remainder will be represented by way of a Promissory Note in the amount of $1 million.
While Deppen is President and Manager of Forever Media, responsibility of the Promissory Note will go to Forever’s two owners, with the Note personally guaranteed by Donald J. Alt and Kerby E. Confer.
Nineteen quarterly payments will begin three months from August 19, 2019, with the first four valued at $50,000. The next 15 quarterly payments are valued at $25,000.
Lestette/Lebanon is led by President Robert Etter, and heads a company that has owned the AM and FM east of Harrisburg and west of Reading for more than 70 years.
Etter said, “WLBR/WQIC has been in the Etter family for over 70 years. Since my sons have independent careers, I made the decision to sell to Forever Media — an excellent company consisting of community oriented radio stations. They empower local managers with key decision-making authority and encourage local community interests to be a factor in any decision.”
Greg Guy of Patrick Communications was the exclusive broker in this transaction, representing Etter and Lestette/Lebanon.
With this addition, Forever Media grows to 64 broadcast licenses in 11 markets, mainly across Pennsylvania and in cities in adjacent states.
