Lincoln Financial Media Buys Move-In WMSF, Will Bring Sports To Miami
August 24, 2012 at 8:25 AM (PT)
PALM BEACH BROADCASTING has sold its MIAMI move-in WMSF/WEST PALM BEACH to LINCOLN FINANCIAL MEDIA for approximately $13 million. LINCOLN, which is buying the station under an option acquired from CBS RADIO, will simulcast Sports WAXY-A (790 THE TICKET) on WMSF under an LMA until the deal is approved by the FCC and closed. WMSF is the 104.3 FM signal formerly occupied by AC WEAT (SUNNY 104.3, now at 107.9, bumping the Country WIRK calls and format to 103.1; both stations were acquired by PALM BEACH from CBS earlier this year).
"We are pleased to sell the station to LINCOLN FINANCIAL MEDIA, a quality broadcaster in SOUTH FLORIDA" said PALM BEACH CEO DEAN GOODMAN. "This is consistent with our desire to super-serve the PALM BEACH COUNTY Market and our original plan for divestiture."
“This is an exceptional strategic opportunity for us,” said LFM Pres./CEO DON BENSON. “We are big believers in Sports Talk, and this acquisition both strengthens our cluster and gives us even better distribution of WAXY -- 'THE TICKET' -- throughout SOUTH FLORIDA.”
PETER HANDY of STAR MEDIA GROUP brokered the deal.