A Class A FM serving the Portsmouth, Ohio listening area is trading hands. What does this mean for a Classic Rocker with a name that’s traditionally been used for stations airing a Smooth Jazz format?
It’s a question that also applies to an AM/FM combo also poised to trade hands.
That will be up to pending buyer Total Media Group, which is acquiring WNXT-AM & FM and WZZZ-FM in Portsmouth, Ohio, from Hometown Broadcasting of Portsmouth 2 Inc.
A $1.25 million sale price has been agreed upon by the parties, with a $100,000 deposit made by Total to the seller. A wire transfer with the balance is to be paid in full at closing.
Serving as the seller’s broker is Henson Media.
The asset purchase agreement notes that Hometown is currently negotiating for an easement to AEP Energy for the location of power lines on the WNXT-AM tower site.
Total Media Group is led by Cora Willett, who used Cole, Kirby & Associates of Jackson, Ohio, and Gregg Skall of Telecommunications Law Professionals PLLC as its legal representatives.
The seller’s legal counsel is Arthur Belendiuk of Smithwick & Belendiuk.
With the FCC’s regulatory approval of the deal, WNXT-AM & FM and WZZZ-FM will become siblings of a group of stations located across Ohio.
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