The 50% owner of a television station devoted to religious and family-friendly programming serving the Greenville, S.C. DMA has just acquired another property.
It’s located in Monroe, La., and offers similar fare to viewers in this part of the Bayou State.
From 2013-2016, MyNetwork TV programming aired in the Monroe market on KMCT-39. From 1998-2005, this station was the market’s PAX TV affiliate.
Today, it is an independent station offering religious fare — programming that aired on KMCT in between its two former network affiliations.
Now, KMCT owner First Assembly of God of West Monroe is selling the station to KMCT Holdings LLC for $600,000.
The buyer is led by Dante Thompson, who holds 50% attributable interest in WGGS-TV in Greenville, S.C.
WGGS airs similar programming to KMCT, and no major changes are anticipated.
A $250,000 earnest money deposit has been made to the church. At closing, $150,000 in cash will be paid. A promissory note valued at $200,000 has been executed, with 0% interest payable in monthly installments of $833.33 for the next 20 years.
Of the purchase price, $225,000 is allocated to real property.
As additional consideration, Thompson and KMCT Holdings will represent the Church for one year after closing in seeking arrangements for broadcast time from other TV stations for the Church’s programming. This includes WGGS, and undetermined stations in Louisville and Atlanta.
