In July 2017, a Chicago-based entity led by Richard Bonick quietly acquired a FM translator licensed to Mt. Holly, N.J., from Rowan College at Burlington County for $125,000.
Now, Bonick’s Spectrum Development Group is cashing out in a big way with the sale of the facility, which uses a tower at 1700 Market Street to reach Philadelphia’s south side and such communities on the east side of the Delaware River as Camden and Pennsauken, N.J.
