Remember the days when one could see an able-bodied but unemployed person advertising the willingness to work for food? Of course you don’t – the 1930s are over. But a deal in the Norfolk market was essentially that type of handyman proposition.
The station is WCPK-AM Chesapeake VA, one of the last of the handful still in the once vast southeastern domain of Levi Willis’s group.
In fact, it was Levi Willis II who signed off on the deal for licensee Christian Broadcasting of Chesapeake Inc.
The buyer is a familiar name: Nancy Epperson, under the auspices of her Chesapeake-Portsmouth Broadcasting Corporation. She and her husband Stuart are known for their association with Salem.
The value of the deal is set at $100,000. And that value is considered to be prepaid in the form of a “build-out” executed by the buyer on behalf of the seller and benefitting the seller’s WPCE-AM Portsmouth VA, a station in the same market. The Willis group has another AM in the market and one each in Louisiana, Mississippi, Georgia and North Carolina.
CPBC will also have free access to Willis’ tower for a year, and after that will begin a 15 year lease with a starting rent of $600/month and rising 5% annually.
WCPK-AM is a Gospel station, and has been in a TBA with the buyer dating to a contract struck 1/28/14. It’s a Class D on 1600 kHz with 4.2 kW-D, 23 W-N, ND with decent market coverage during the day and, as one might expect, a tiny contour at night.
It will join Epperson’s three other local AMs:
* WHKT-AM Portsmouth uses a conservative talk format. It’s a Class B on 1650 kHz with 10 kW-D, 1 kW-N, ND. Day coverage is good, night is OK.
* WPMH-AM Portsmouth is a Christian station. It’s a Class B on 1010 kHz with 5 kW-D, 449 W-N, DA2. It does a good job covering the market during the day, and is OK at night.
* WTJZ-AM Newport News plays Gospel on 1270 kHz. It’s a Class B with 1.5 kW-D, 900 W-N, DAN. It does a good job blanketing the center of the market, but coverage of the substantial surrounding sprawl is limited.
Epperson also has an interest in a noncommercial FM in the market that is not attributable and need not be considered when calculating local ownership cap compliance.
