Broadcast media broker Todd Fowler is also a licensee of radio stations. And, he’s a party in no less than three transactions submitted for regulatory approval with the Commission.
In two of those deals, he’s the seller. In the third, Fowler is the buyer.
Through his Skyline Media of Rutherfordton LLC, Fowler is agreeing to part ways with WCAB-AM 590 and W265DW at 100.9 MHz in Rutherfordton, N.C., adjacent to Forest City.
And, via Skyline Media Holdings, Fowler has signed off on the sale of WBRM-AM 1250 and W280FP at 103.9 MHz in the mountain community of Marion, N.C.
The buyer for each station is Signal Hill Media Partners.
The WCAB deal is valued at $477,500, and a $25,000 deposit has been made to Fowler.
The WBRM transaction totals $275,000, with a $31,500 cash deposit made to Fowler and a $18,500 payment made in cash at closing. The remaining $225,500 will be honored by a Promissory Note bearing 6% annual interest, to be paid in monthly installments of $3,728.90 over six years.
The WBRM transaction sees Beth Griffin of Griffin Media Partners serve as the broker of record.
For Fowler, proceeds will likely be used to offset his acquisition of WXGM-AM & FM and W272EJ in Gloucester, Va., through his Skyline Media of Virginia. The seller is WXGM Inc., led by President Marva Robinson.
A $450,000 purchase price for the Gloucester radio stations was agreed to, with a $22,500 escrow deposit being held by the seller’s broker of record, Schutz & Company. At closing Fowler will pay $50,000 in cash, and enter into a Promissory Note valued at $377,500. It carries 6% annual interest and is to be amortized over a 15-year term, with a five-year balloon payment.
WXGM-FM is a Class A FM serving a rural area due north of Newport News, Va.
