Two FMs with 6kw serving a rural area of Georgia that includes the tiny towns of Jacksonville and Axson have been sold. Pending FCC approval, it will become a station licensed to Journey Church of Tifton.
An asset purchase agreement has been submitted for regulatory approval that will see the sale of WVHY-FM 97.1 be sold from Becky Vickers.
At the same time, Middle Georgia Community Radio is agreeing to sell Class A WJIZ-FM 102.3 in Jacksonville, Ga.; Class D FM Translator W251AU in Ocilla, Ga.; and an FM translator associated with WVHY — W260BU in Douglas, Ga. — to Journey Church.
Along with 8.95 acres of land, the church is acquiring the stations for $175,000.
The transaction price includes a charitable contribution of $25,000 to the church, lowering the cash payments to MGCR and Vickers to $140,000. A $5,000 payment is being made to Vickers, while the remainder is going to MGCR.
MGCR is tied directly to Vickers, who used the services of Tepper Law Firm in this transaction.
