Holladay Family Shuffles Stock In Mississippi, Louisiana Stations
June 28, 2006 at 6:17 AM (PT)
FRANK E. "EDDIE" HOLLADAY is transferring his stock in several Southern stations to his sons BOB and CLAY and six grandchildren in two transactions.
In one, the elder HOLLADAY's NEW SOUTH COMMUNICATIONS is selling Country KJLO (K-104)/MONROE, LA to son BOB's HOLLADAY BROADCASTING OF LOUISIANA, LLC, which has been operating the station under a 2004 LMA, for $500,000.
In a separate deal, EDDIE HOLLADAY is selling his 52% interest in NEW SOUTH RADIO, licensee of Top 40 WYOY (Y-101)/GLUCKSTADT, MS, Regional Mexican WIIN-A (LA GRAN D)/RIDGELAND, MS, AC WJKK (MIX 98.7)/VICKSBURG, MS, and Country WUSJ (US 93.3)/MADISON, MS to sons BOB and CLAY HOLLADAY and trusts for grandchildren BARBARA, HANSON, ROBERT L., BRYAN, JOYCELYN, and CLAYTON B. HOLLADAY for $402,684. The sons get 20% each of the company, and the grandchildrens' trusts, which presently hold 8% each, will each get an additional 2% to bring their interests to 10% each.