A 50,000-watt FM radio station offering “Tennessee’s Best Country” to an area of the state due west of Music City USA is being sold.
To make the deal happen, the buyer signed off on a Personal Guaranty in the amount of $240,000.
WLFN-FM “105.1 The Wolf” in Waverly, Tenn., is being acquired by Jody Fowler through Fowler Media LLC.
The seller is Consolidated Media, and it is earning precisely $309,416 from the sale of the station.
To pay for WLFN, Fowler is paying $240,000 through a Promissory Note executed and personally guaranteed.
There’s also an interesting caveat regarding any future sale of WLFN. If that were to transpire, Fowler will need to pay Consolidated 10% of the gross sale price within 10 days of that transaction’s closing date.
The WLFN deal includes the station’s broadcast tower, which is presently operating within FAA and FCC regulatory guidelines.
Consolidated, which is led by Michael Parchman, saw Davina Sashkin of Wilkinson Barker Knauer LLP serve as its legal counsel in this transaction.
