Bahakel Sells Waterloo-Cedar Falls Cluster To Woodward, USC Buys KCNL/San Jose
March 30, 2012 at 5:12 AM (PT)
BAHAKEL COMMUNICATIONS is selling its four-station WATERLOO-CEDAR FALLS cluster to WOODWARD COMMUNICATIONS, INC. for an undisclosed price. The cluster includes Talk KXEL-A, Rock KFMW (ROCK 108), Classic Hits KOKZ (COOL 105.7), and Oldies KWLO-A (OLDIES 1330)/WATERLOO, IA. MEDIA SERVICES GROUP's JODY MCCOY served as exclusive broker for the deal, representing BAHAKEL.
WOODWARD Pres./CEO TOM YUNT said, "We are very excited to add these outstanding stations to the WOODWARD RADIO GROUP (WRG) and our 'dynamic employee-owned media company,' and we look forward to the opportunity of serving the greater WATERLOO/CEDAR FALLS communities. The stations are well positioned with their heritage and formats and have a wonderful track record in serving their valued listeners and advertisers."
BAHAKEL Pres./CEO BEVERLY B. POSTON added, "It is with highly mixed emotions that we sell the stations but that the decision was made easier because of the quality company that WOODWARD is, the fact that it is employee-owned and their commitment to provide such excellent services to the various communities in which they operate ... we recently purchased an additional television station in MONTGOMERY, AL, as well as an additional radio station for our CHATTANOOGA cluster so this was done as some realignment of our properties. We leave WATERLOO very reluctantly but comforted in knowing that our stations and employees will be in such wonderful hands."
USC Buys KCNL/San Jose
PRINCIPLE BROADCASTING NETWORK is selling Spanish Variety KCNL (iFM 104.9)/SUNNYVALE-SAN JOSE, CA to the UNIVERSITY OF SOUTHERN CALIFORNIA for $7.5 million plus an LMA before closing. The station will be converted to noncommercial status and will provide a SOUTH BAY signal for the programming of Classical KUSF (KDFC)/SAN FRANCISCO.
In other filings with the FCC, IHR EDUCATIONAL BROADCASTING is buying again, this time picking up Religion KHOT-A/MADERA, CA from REDWOOD FAMILY SERVICES, INC. for $10. The station will be converted to noncommercial status.
JEFFREY N. EUSTIS' JNE INVESTMENTS, INC. is selling the construction permit for KDCO-A/JOHNSTOWN, CO to VIC MICHAEL's ADVANCED MODULATION BROADCASTING, LLC for $10,000.
ST. JOHN VIANNEY ROMAN CATHOLIC SCHOOL has closed on the sale of the construction permit for noncommercial WRSN/LEBANON, TN to RISEN RADIO for $1,000.
SOUTH CENTRAL COMMUNICATIONS CORP. has closed on the sale of Adult Hits WRJK (JACK FM) to the BLUE RIDGE BROADCASTING COMPANY, part of the BILLY GRAHAM organization, for $625,000.
And AMERICAN MEDIA INVESTMENTS INC. has closed on the sale of Talk KKTK-A (K-TALK 1400)/TEXARKANA, TX to ROBERT A. DELGIORNO JR.'s FREED AM CORP. for $250,000 plus $41,900 for the station's real estate.