Price For Waitt/McCarthy Sale Of NRG Stake: $70 Million; EMF Buys In Pensacola
October 22, 2013 at 4:54 AM (PT)
The price for the sale of WAITT COMPANY and MCCARTHY CAPITAL's stakes in NRG MEDIA, LLC to funds affiliated with CYRUS CAPITAL PARTNERS, previously undisclosed, is $70 million, according to the contracts filed with the FCC. for an undisclosed price.
In other filings with the FCC, 550 AM BROADCASTING CORP. is selling Contemporary Christian WKFP/NAVARRE-PENSACOLA, FL to EDUCATIONAL MEDIA FOUNDATION for $1,750,000. It is already an affiliate of EMF's K-LOVE format.
ART and JEANNE RIVKIN's A & J MEDIA LLC is selling AC KAJR (95.9 THE OASIS)/INDIAN WELLS-PALM SPRINGS, CA to TODD and MARGARET MARKER's R M BROADCASTING, LLC for $600,000. The buyers, who also operate Country KPLM (BIG 106), Smooth Jazz KJJZ (K-JAZZ 102.3), and Rhythmic Oldies/AC KMRJ (JAMMIN' 99.5) in the market, have operated the station under a Time Brokerage Agreement since 2010.
MICHAEL H. GLASS is selling Urban Inspirational WMER-A/MERIDIAN, MS to N. BRAD CARTER, JR. for $200,000 (assumption of debt plus credit for over $14,000 in personal loans by the buyer to the seller and a promissory note for the rest), plus a Time Brokerage Agreement before closing. CARTER is also buying FM translator W226BI/MERIDIAN from KEN RAINEY, SR. for $100,000; the translator will rebroadcast WMER.
TUGART PROPERTIES, LLC is selling FM translators W299BK/ROYSTON, GA and W243CI/ELBERTON, GA to ERVIN BROADCASTING, LLC for $150,000. The translators have applied to move to ANDERSON, SC and would rebroadcast Talk WRIX/HOMELAND PARK-ANDERSON.
DONALD H. PUGH, JR. is assigning Silent WHJA-A/LAUREL, MS to his father DONALD H. PUGH, SR. (ETERNITY RECORDS CO., LLC) for no consideration. The was one of the AMs donated to the MINORITY MEDIA TELECOMMUNICATIONS COUNCIL by CLEAR CHANNEL and subsequently sold to DONALD H. PUGH, JR. for $5,000.
WPRR, INC. has applied for an extension of the Silent STA for WXPZ/CLYDE TOWNSHIP, MI while it applies for a new site.
III & W BROADCASTING LLC has closed on the sale of Silent KHLB and KZZM/MASON, TX from MUNBILLA BROADCASTING PROPERTIES LTD. for $130,000. BILL WHITLEY of MEDIA SERVICES GROUP served as exclusive broker representing the seller in the deal.
RADIO ASSIST MINISTRY, INC. has closed on the sale of FM translator W290AX/WAYCROSS, GA to LIGHTHOUSE CHRISTIAN BROADCASTING CORP. for $1,000, with the buyer exercising an option to buy under a 2011 rebroadcast agreement.
EDUCATIONAL MEDIA FOUNDATION has closed on the sale of FM translator W237AT/RICHMOND, IN to BREWER BROADCASTING CORP. for $50,100.
And DELMARVA EDUCATIONAL ASSOCIATION has closed on the sale of the construction permit for a new noncommercial FM at CALIFORNIA, MD to REDEEMER BROADCASTING, INC. for $2,500 down and an additional $7,500 if the station is built and an application for a permanent license is timely filed.
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