In these trouble times for the station trading business, it is hard enough to simply strike a deal. Then, even when that event is achieved, the deal has to survive FCC scrutiny, and often more precariously, the scrutiny of the financial community. Here are some deals that have recently made it to closing.
* WOCN-AM Miami FL is now in the hands of David Jacobs’ Deportes Media LLC, and $1.2M is on its way to Independence Media of Florida LLC under terms of a promissory note. Stephan Sloan of Media Services Group provided brokerage services.
* Former Bonneville exec Richard Mecham added to his new radio group, Rich Media, by buying on KCHQ-FM and KRID-FM CP in the Idaho Falls area for $950,000. The seller was Ted Austin, and Media Services Group brokers Jody McCoy and Greg Merrill worked on the deal.
* A pair of FMs have made it into new hands. KMXH-FM Alexandria LA and KBCE-FM Boyce LA are now proudly owned and operated by JWBP Broadcasting. The seller, Trinity Broadcasting d/b/a URBan Radio, earned $600K for the duo, and George R. Reed of Media Services Group and Jerry Proctor provided brokerage services.
* A trio of Houghton MI stations are in new hands, in part thanks to brokers Jerry Johnson and Tom McKinley of Media Services Group. The stations went from Heartland Communications to Houghton Community Broadcasting Corporation for $535K. The stations include WOLV-FM, WCCY-AM, and WHKB-FM.
* WZBN-FM Albany GA is now in the hands of Light Media Holdings LLC, headed by Danny Wilson, Mark Harris. The seller was Steve Hegwood’s Extreme Media Group LLC, and the price was $250K.
* West Jacksonville Baptist Church now has its own place on the dial, having closed the acquisition of WHJX-FM Baldwin, FL from Tama Broadcasting for an even $1 million.