Just to the north of New Orleans, across Lake Pontchartrain, is a Class C3 FM facility offering “Lifesongs” to such Louisiana communities as Slidell and Bogalusa.
The station will now have new owners, an Asset Purchase Agreement filed with the FCC on Friday (5/11) indicates. It’s one of a handful of small deals under the microscope in the weekend edition of TRANSACTIONS TODAY from RBR+TVBR.
For $100,000, Providence Educational Foundation is acquiring WGON-FM 91.3, licensed to Slidell.
The seller is Crisis Pregnancy Center of Slidell Inc., and both are nonprofit corporations.
Terms call for PEF to pay $5,000 in cash at closing. It will then enter into a Promissory Note calling for monthly $5,000 payments with no interest, for a 19-month term.
Additionally, a $5,000 escrow deposit is being held by Hardy Carey Chautin & Balkin LLP.
There is no broker associated with this transaction.
The seller’s legal counsel is Matt MacCormick of Fletcher Heald & Hildreth.
IN OTHER TRANSACTIONS TODAY:
FM translator K256CA, broadcasting from atop Navajo Mountain in the Lake Powell area of Utah, is being traded to Red Rock Radio Group from Spirit Media for $1,000. This payment is designed to cover all fees for the preparation and assignment of the facility. It will be used to rebroadcast Class C2 “RedRock 92,” KBDX-FM 92.7 in Blanding, Utah. To accomplish this, a waiver is being filed as the translator serves a vast “white area” with little or no local radio signals. One AM radio station, KTNN-AM 660 in Window Rock, Ariz., can be heard day and night; Navajo Public Radio’s KGHR-FM 91.3 from Tuba City, Ariz., has a limited signal due to distance and terrain. KBDX’s signal contour is well to the northeast of Lake Powell.
