The sale of an AM-FM combo and FM translator in Illinois is now complete.
Patrick Communications served as the seller’s broker in this transaction.
Meanwhile, there’s another deal in which Patrick was the broker, and it involves a Class A television station in Michigan’s biggest market.
In a deal that saw the buyer assume control of the stations via an LMA ahead of closing, The Original Company, led by President Mark Lange, acquired WROY-AM 1460 and WRUL-FM 97.3 in Carmi, Ill., from Withers Broadcasting Co. of Illinois for $390,000.
The transaction was initially announced in November 2016, with The Original Co. also getting Withers’ translator W229AU at 93.7 MHz in Fairfield, Ill.
In other TRANSACTIONS TODAY:
- In a deal valued at $2 million, LocusPoint Networks LLC is selling class A television station WDWO-CD in Detroit to non-profit TCT of Michigan. WDWO uses UHF Channel 18 and broadcasts the programming of the Tri-State Christian Television (TCT) religious network. A $100,00o escrow payment was made to LocusPoint by TCT, and the remainder is due at closing. Patrick Communications was also the broker in this deal and represented LocusPoint.
- WLRV-AM 1380 in Lebanon, Va., is getting new life. The facility, presently dark, has been sold to religious broadcaster Psalm 68 Eleven Media by Gary W. Ward Broadcasting Corp. for a $129,402.45 trust account deposit, going to Chafin Law Firm P.C. The buyer has also agreed to pay $35,250 to satisfy the seller’s liens with the Internal Revenue Service, and $6,328 owned to the FCC, while back taxes for 2015 and 2016 will also be resolved from another payment. Once this is done, a $130,000 payment will be made to the successor of J.T. Parker — the individual who sold WLRV to Gary Ward and is still owed funds from this December 1999 deal. WLRV has been silent since June 2016 per a Special Temporary Authority (STA).
