SALES – STATIONS
Multistate Deal – Standard Media Group strikes a $64.2 million deal to buy 15 radio stations and 11 television stations from Bill Christian and Mike Reed’s Sound Communications. The stations include:
- Lafayette, IN: country “Y-95.7” WYCM, CHR “Z-96.5” WAZY-FM, adult hits “95.3 Bob FM” WBPE, talk “1410 The Patriot” WSHY
- Elmira, NY: “Kickin Country 105.3” WKPQ, AC “Magic 92.7-97.7” WENI-FM/WENY-FM, classic hits “Gem 98.7” WGMM, and news-talk WENY/WENI (1230/1450)
- Olean, NY: country “KZ-102” WZKZ and its simulcast WOEN (1360), classic rock “98 Rocks” WQRS, hot AC “Mix 101.5” WMXO, and talk “1590 The Patriot” WGGO
The deal also includes low-power television stations in the Rochester, NY: Jackson, TN; Lafayette, IN; Elmira-Corning, NY; Hattiesburg-Laurel, MS; Jonesboro, AR; and Meridian, MS markets. In addition to the radio and television properties included in the deal Sound Communications is also selling the Little Rock-based NewsHub, a recent acquisition that provides news anchoring and production services to stations around the country. Standard Media is led by Deb McDermott, CEO and Stan Knott, COO. McDermott previously served as the COO of Media General and CEO of Young Broadcasting. Earlier this year Standard Media Group closed on its first acquisition, purchasing low-power TV stations WLNE-DT in Providence, RI and KLKN-DT in Lincoln, NE from Citadel Communications for $83 million. Broker: Kalil
Illinois – Good News Radio files a $1.1 million deal to buy seven full-power stations and seven FM translators from Cornerstone Community Radio. The stations include WLUJ, Springfield, IL (89.7); WLWJ, Petersburg, IL (88.1); WRLJ, White Hall, IL (88.3); WJWR, Bloomington, IL (90.3); WHPA, Macomb, IL (89.7); WLLM-FM, Carlinville, IL (90.1); and WLLM, Lincoln, IL (1370). The deal also includes seven FM translators including the Bloomington, IL-licensed W284BT at 104.7 FM; the Beardstown, IL-licensed at 93.5 FM; the Decatur, IL-licensed W261CQ at 100.1 FM; the Jacksonville, IL-licensed W228BB at 93.5 FM; the Springfield, IL-licensed W287CK at 105.3 FM; the Lincoln, IL-licensed W287BP at 105.3 FM; and the Lincoln, IL-licensed W261AF at 100.1 FM. All of the stations and translators have carried a religious format.
Norfolk-Virginia Beach-Newport News, VA – Luis Cortes’ Latin Broadcasting Network files an $850,000 deal to buy Spanish CHR “La Selecta 1050” WVXX from Hindlin Broadcasting. The deal also includes the Norfolk, VA-licensed translator W271DF at 103.3 FM. Broker: CMS Station Brokerage
Illinois – Joey O’Rouke’s JKO Media Group files a $700,000 deal to buy classic hits WMMC, Marshall, IL (105.9) from JDL Broadcasting. The deal includes a $100,000 cash payment and a ten-year promissory note for the balance. O’Rouke is the morning host on WMMC and he doesn’t own any other stations. WMMC falls in the Terre Haute, IN market.
Michigan – Chris Bernier’s Armada Media Partners strikes a $650,000 deal to buy four stations in Michigan’s Upper Peninsula from Randy Michaels’ Radioactive. The stations include CHR “94.9 The Bay” WUPZ, classic country “Maverick 96.7” WUPG, and classic hits “100.3 The Point” WUPT in Marquette, MI. Armada also buys classic hits “Eagle 107.3” WUPF in the nearby Escanaba, MI area. Armada Media has been operating the stations since April 2016. It already owns five stations in Escanaba including country WCMM (102.5), oldies “Kool 105.5” WGKL, CHR “Magic 97” WGLQ, “News Talk 600” WCHT, and classic country “The Maverick 1490” WTIQ. Once the transaction closes it will give Armada a total of 14 stations in Michigan’s U.P. region including another five stations in the Marinette/Menominee area. Seller Radioactive will still own nine stations in the Burlington-Plattsburgh, VT-NY; Salina-Manhattan, KS; and Watertown, NY markets.
Greensboro-Winston-Salem-High Point, NC – Latino Broadcasting files to donate Spanish-language religious WYSR (1590) to Iglesia Cristo Reyna. The appraised value of the donation is pegged at $325,000 to $350,000.
Nashville – Eben-Ezer Broadcasting files a $275,000 deal to buy “News Talk 1590” WDBL and country/oldies WSGI (1100) from Lightning Broadcasting. Eben-Ezer Broadcasting doesn’t own any other stations.
Bangor, ME – Lee L’Heureux and Patrick Cerullo’s Mainestream Media files a $100,000 deal to buy classic country WCYR (1400) from Port Broadcasting. The deal also includes the Bangor, ME-licensed translator W275CQ at 102.9 FM. Mainestream Media will operate WCYR under a local marketing agreement until closing. It currently owns CHR “Hot 104.7” WHTP in the Portland market and “Fun Oldies 1280” WJYE in the Augusta-Waterville, ME market. Once the sale closes, Port Broadcasting will still own oldies WGUY (1230) and soft AC “The Wave” WBAN (1340) in the Bangor market.
Wyoming – Educational Media Foundation files a $98,000 deal to buy KXJW, North Rock Springs, WY (101.9) and KWXR, Reliance, WY (98.7) from Ted Tucker’s Cochise Broadcasting. EMF currently owns two FM translators in the area including the Rock Springs, WY-licensed K299AG at 107.7 FM and the Green River, WY-licensed K232CU at 94.3 FM. Both translators currently air its contemporary Christian “K-Love” network. Broker: Kalil
Illinois – Covenant Network files a $47,000 deal to buy the currently-silent WQNA, Springfield, IL (88.3) from Capital Area Vocational Center. The Center took the station dark in November telling the FCC that it no longer had the funding to continue operating WQNA. Covenant Network will be a religious format on the station. Broker: Brian Byrnes, Paramount Media Advisors
Houston – Music Masala files a $1.15 million deal to buy the Fairbanks, TX-licensed translator K254BZ at 98.7 FM from Hispanic Family Christian Network. The translator is currently fed from the HD2 channel of KBXX through a lease agreement between Hispanic Family Christian Network ant KBXX owner Urban One. The FCC filing says once the sale is completed the translator will be fed by Cox Media Group’s classic rock “The Eagle” KGLK (107.5).
Buffalo, NY – Radio One Buffalo files a $50,000 deal to buy the Buffalo, NY-licensed translator W262CM at 100.3 FM from Edgewater Broadcasting. Radio One Buffalo already uses the signal to simulcast oldies WECK (1230).
Binghamton, NY– Equinox Broadcasting files a $30,000 deal to buy the Endicott, NY-licensed translator W225BC at 92.9 FM from Kevin Fitzgerald and George Hawras. Equinox plans to use the signal to relay the HD3 signal of Binghamton market classic hits “Cool 106.7” WCDW.
Indiana – Olivet Nazarene University files a $30,000 deal to buy two FM translators from World Radio Network. The deal includes the Elkhart, IN-licensed W208BF at 89.5 FM and the Goshen, IN-licensed W207BF at 89.3 FM. The stations will carry the HD2 format of contemporary Christian “Shine FM” WONU, Chicago (89.7).
New York – Emmis closes a deal to sell a majority stake in urban AC WBLS (107.5) and rhythmic CHR “Hot 97” WQHT to Standard General, the hedge fund controlled by Soohyung Kim. The filing shows that in exchange for putting $91.5 million into Emmis, Standard Media will receive a 76% equity stake in the two New York stations. Emmis will retain a 24% equity stake a company they’re calling Mediaco Holdings. The deal also calls for Mediaco Holdings to pay Emmis an additional $5 million under a five-year promissory note. The complex deal also has several other components. Under a $1.25 million per year management agreement that runs until Dec. 31, 2020, Emmis will continue to operate the two FMs and employees remain employees of Emmis although they will technically be leased to Mediaco. Emmis continues to own gospel WLIB (1190) and under a local marketing agreement it will continue to have the right to simulcast its signal on the HD2 channel of WQHT for free through Dec. 31, 2022. The deal also calls for Emmis to pay Mediaco Holdings for any expenses that it incurs related to the WLIB operations or the long-term lease of sports WEPN (98.7) to ESPN Radio.
Georgia – Dennis Jones has closed a $715,000 deal to buy three stations in the Vidalia, GA area from John Ladson’s Vidalia Communications. The stations include “Sweet Onion Country 101.7” WYUM, AC “98Q” WTCQ (97.7) and “News Talk 970” WVOP. The deal also includes the Vidalia, GA-licensed translator W287CR at 105.3 FM which simulcast WVOP. RadioJones already owns seven other stations in the region including “100.5 Country” WXRS-FM and classic hits “The Rocket” WXRS (1590) in Swainsboro, GA; classic hits “100.7 The Boomer” WBMZ and contemporary Christian WHCG (1360) in Metter, GA; WEDB in East Dublin, GA; and hot AC “Magic 98.1” WDBG in Dexter, GA. Broker: Jason James, Patrick Communications
Las Vegas – Educational Media Foundation closes a $597,000 deal to buy KEKL (88.5) and KVKL (91.1) from Carl Auel. EMF had been operating the two FMs under a local marketing agreement and they air its contemporary Christian “K-Love” network. EMF already owns contemporary Christian “Air1” affiliate KAER (89.3) in Las Vegas. Auel still owns religious KKVV (1060) in the market. Broker: Rob Branch
South Dakota – Loren and Pace Maier’s 4 Paws Broadcasting closes a $405,000 deal to buy oldies “Solid Gold 98” KDSJ, Deadwood, SD from Goldrush Broadcasting. This is the first station for 4 Paws Broadcasting.
Evansville, IN – Way FM Media Group closes a $150,000 deal to buy adult alternative WUEV (91.5) from the University of Evansville. WUEV first signed-on as WEVC in 1950 when the university was known as Evansville College. The school began exploring the sale of WUEV in May 2018. The university will keep the studio facilities for its communication and journalism programs as part of the deal. It says the decision to sell WUEV will save $1 million over the next decade.
Albany, GA – Joe Morgan’s Pretoria Fields Collective Media closes a $90,000 deal to buy country “Nash Icon 102.1” WNUQ from Cumulus Media’s Mainstay Station Trust. Pretoria Fields Collective Media doesn’t own any other stations. It is a sister company to Albany, GA-based Pretoria Fields Collective, a family-owned farm brewery. WNUQ has been in the Elliot Evers-run trust since Nov. 2017 as part of Cumulus Media’s bankruptcy reorganization Cumulus still owns five stations in the Albany, GA market.
Augusta, GA – Michael Sbuttoni files to reclaim the silent WEZO (123) from Norma Lewis’ 21st Century Broadcasting. The FCC filing says no cash will change hands but Sbuttoni will release 21st Century from what’s still owed under a $350,000 promissory note signed when he sold the station three years ago. It’s the fourth time that Sbuttoni—an orthodontist in Albany, NY— has owned WEZO. His Eastern Broadcasting Group previously owned the station from 2003 to 2007, from 2009 to 2010, and from 2011 to 2016 with previous owners also defaulting on promissory notes.
Portland, OR – Educational Media Foundation closes a $90,000 deal to buy contemporary Christian “Air1” affiliate KWBX (90.3) from Corban College. EMF already owns four stations in the Portland market including “Air1” affiliates KZRI (88.7), contemporary Christian “K-Love” affiliates KLVP (97.9) and KLVU (107.1), and Spanish religious “Radio Nueva Vida” affiliate KXPC (90.3).
Portland, OR – ProMedia Partners closes an $8,000 deal to buy “Oldies 1260” KLYC from Celebrate Life Media. The deal also includes the McMinnville, OR-licensed translator K256DF at 99.1 FM.
Utah – David Barton’s Country Gold Broadcasting closes a $100 deal to buy adult hits “Jack FM 92.5” KCUA, Maeser, UT (92.5) from Evans Broadcasting. Country Gold Broadcasting already owns classic country KNEU, Roosevelt, UT (1250). Evans Broadcasting still owns AC “The Fox 98.5” KIFX, Naples, UT.