New Year Begins Quietly For Deal Filings At FCC
January 3, 2013 at 3:48 AM (PT)
After the usual flurry of end-of-the-year deal filings, the FCC was much more quiet after the holidays, with no new deals filed and just 3G LEARNING SOLUTIONS requesting a Silent STA for KOOW/CROOK, CO due to transmitter failure.
In closings reported to the Commission, CROSSROADS INVESTMENTS LLC has closed on the sale of Oldies WAXI/TERRE HAUTE to DAVE CROOKS' DLC MEDIA INC. for $300,000.
EMMIS COMMUNICATIONS has closed on the purchase of Adult Hits WSDM-F (92.9 BOB FM) and Sports WFNF-F (1130 THE FAN, formerly WSDX-A)/BRAZIL-TERRE HAUTE, IN from CROSSROADS INVESTMENTS LLC for $335,000,
CHICAGO PUBLIC MEDIA has closed on the purchase of noncommercial Spanish Variety WRTE (RADIO ARTE)/CHICAGO from NATIONAL MUSEUM OF MEXICAN ART for $300,000 cash plus $25,000 "cash financial support" for a project to be determined for each of the 2012-13 and 2013-14 fiscal years, and $25,000 worth of promotional announcements each year for four fiscal years.
REACH COMMUNICATIONS, INC. has closed on the sale of FM translator W294AN/FORT MYERS BEACH, FL to J&B WMYR, LLC for $45,000. The station will rebroadcast Timeless Cool WMYR-A/FORT MYERS.
And LIGHT MEDIA HOLDINGS, INC. has closed on the sale of Urban Inspirational WZBN (POWER 105.5)/CAMILLA, GA to GREATER 2ND MT. OLIVE MISSIONARY BAPTIST CHURCH for $242,500 ($235,000 in a promissory note).
The Commission also approved the sale by PAMAL BROADCASTING of Country WXBM and AC WMEZ (SOFT ROCK 94.1)/PENSACOLA to CUMULUS for $6.5 million and the swap by CUMULUS of WRQQ/BELLE MEADE, TN-NASHVILLE to EDUCATIONAL MEDIA FOUNDATION for WLVM (now Top 40 WABD)/MOBILE plus the sale of the facility of WDLT (now Contemporary Christian WLVM)/CHICKASAW-MOBILE, AL by CUMULUS to EMF for $1.6 million over the objection of ADX COMMUNICATIONS OF ESCAMBIA and ADX COMMUNICATIONS OF PENSACOLA. ADX raised questions about whether the deals violated multiple ownership rules for the PENSACOLA market.
Elsewhere, MY TOWN MEDIA has acquired KIND-A/F and KBIK/INDEPENDENCE, KS from the Court-appointed receiver for TALLGRASS BROADCASTING, LLC. The purchase price is $310,000. BILL WHITLEY of MEDIA SERVICES GROUP served as the exclusive broker representing the TALLGRASS receiver.