Price For Asterisk-JVC Gainesville Deal: $3.5 Million, Plus A Spinoff Deal
January 20, 2014 at 4:17 AM (PT)
ASTERISK COMMUNICATIONS, INC. and JVC MEDIA OF FLORIDA, LLC have finally filed the paperwork for the deal announced last year for JVC to buy ASTERISK's GAINESVILLE-OCALA cluster, which it took over in an LMA last MAY, with the FCC. The deal puts four stations -- Country WTRS-WYGC (MY COUNTRY 104.9), Hot AC WMFQ (92Q), and Top 40/Rhythmic WXJZ (PARTY 100.9) -- in JVC's hands for $3.5 million ($350,000 down, $500,000 in a promissory note, $2,650,000 cash at closing).
Former Top 40/Rhythmic WBXY (PARTY 99.5)/LA CROSSE, FL, presently awaiting a new format after the PARTY format moved to WXJZ, is being spun off to RDA BROADCAST HOLDINGS, LLC for $500,000 ($25,000 down, the rest in cash at closing).