Inner City Sale To Creditors' YMF Media Filed With FCC
May 1, 2012 at 4:41 AM (PT)
INNER CITY MEDIA has filed the paperwork for the sale of its stations to its creditors as YMF MEDIA. The deal involves $180 million of debt forgiveness, less cash from the separate sale of Urban AC KBLX/SAN FRANCISCO to ENTERCOM, plus expenses for retained professionals and wind down operations (paid in cash) and assumption of other assumed contracts and liabilities.
Stations included in the deal include Urban Inspirational WLIB-A and Urban AC WBLS/NEW YORK; Talk WJNT-A, Urban Inspirational WOAD-A (GOSPEL 1300), Oldies WJQS-A (Oldies 1400), Sports WZNO (ESPN 105.9 THE ZONE), Urban WJMI (99 JAMS), and Urban AC WKXI-F (KIXIE 107)/JACKSON, MS; Talk WOIC-A, Urban WHXT (HOT 103.9), Urban AC WWDM, Classic Rock WMFX (FOX 102), and Rock WARQ (ROCK 93.5)/COLUMBIA, SC; and Chinese KVTO-A and Vietnamese KVVN-A/SAN FRANCISCO. Besides KBLX, Sports WZMJ (ESPN RADIO 93.1 FM)/BATESBURG-COLUMBIA, SC is also being excluded from the YMF deal and is being placed in a divestiture trust.
MINNESOTA VALLEY CHRISTIAN RADIO is selling two FM translators, K296ER/MANKATO, MN and K250AC/ST. PETER, MN, to MINN-IOWA CHRISTIAN BROADCASTING, INC. for $100.
SEWARD MEDIA PARTNERS, LLC has applied for a Silent STA for KSEW-A/SEWARD, AK due to tower replacement.
FAMILY STATIONS, INC. has requested an extension of its Silent STA for FM translator W249BD/WES VIEW, PA while it awaits a permit for a move to alleviate interference.
PENFOLD COMMUNICATIONS, INC. has requested a Silent STA for KTWD/WALLACE, ID in order to make repairs. The same company has applied for a Silent STA for WIGW/EUSTIS, FL for technical reasons.
And COON VALLEY COMMUNICATIONS, INC. has closed on the sale of Regional Mexican KDLS (LA LEY 105.5)/PERRY, IA, Country KKRF/STUART, IA, and Country KGRA/JEFFERSON, IA to MEL and HOLLY SUHR's M&M BROADCASTING, INC. for $500,000.