There are a lot of ways to pay the seller when acquiring a radio station. The compensation package for a station-to-be serving a portion of the Lake Erie shore involves one engraving of George Washington and something else entirely.
When it’s all boiled down, most of the value will be in service to be rendered.
The station is WOHA-FM CP Ashtabula OH.
The seller, a frequent seller of late, is Alex Media Inc., headed by President Alexander Berger.
The buyer is Madison Media Partners LLC, owned 50-50 by Vernon Egli and Victor M. Vickers.
The price is $10,001. $1 will be paid in cash, and the remaining $10K will be paid in the form of services provided to the seller by the buyers or their employees. Service will be provided at the rate of $60 per hour (at most) until the full amount is paid off.
WOHA-FM CP is a Class A on 96.1 MHz with 5.4 kW @ 344’. The station will serve along the shores of Lake Erie east and a little north of Cleveland.
Madison owns facilities in Georgia, and is in the process of acquiring WTTY-FM CP Ty Ty GA from the same seller for $57,500. That deal has a more traditional compensation package, consisting of a $21.5K cash payment and $36K 40-month promissory note.
