As the clock hit 9:25am in Richmond on Tuesday, The Gary Flowers Show was engaged in a conversation about a big voter referendum — Urban One’s plan to build a casino resort on the far south side of the Virginia city. While that two-hour program focuses on local news and politics, the remainder of the daytime schedule is largely focused on Black Gospel shows and music.
Soon, however, this could be coming to an end. Radio Rejoice has been sold.
Relevant Radio is agreeing to acquire WREJ-AM 990 in Richmond, a Class D facility with 1kw during daylight hours and a puny 13 watts after dark.
Importantly, the deal includes FM translator W267CB at 101.3 MHz in Richmond; both signals primarily cover Richmond, and do not reach Ashland or Petersburg.
The seller is Radio Richmond, led by Jim Jacobs.
Relevant Radio owns 74 radio stations, both AM and FM, and is awaiting FCC approval on its purchase of stations in Grayling, Mich.; and KLFE-AM in Seattle. On June 20, 2022, a licensee under Salem Media Group agreed to sell KLFE to Relevant Radio for $500,000.
And, that’s the price WREJ is being sold for, with a $500,000 agreement signed on June 8 by Jacobs and Relevant Radio. A 10% escrow deposit has been made, and the remaining $450,000 will be delivered by wire transfer at closing.
Jorgenson Broadcast Brokerage again represented the seller in the transaction. The representative legal counsel are John Trent of Hunsacker, Putbrese & Trent for Radio Richmond; and Mark Denbo of Smithwick & Belendiuk for Relevant Radio.
