JVC Buys In West Palm Beach
May 14, 2014 at 12:23 PM (PT)
In deals yet to appear in the FCC database, JVC MEDIA is buying Adult Standards WSVU-A and translators W295BJ and W240CI (SEAVIEW AM 960)/NORTH PALM BEACH, FL from NORTH PALM BEACH BROADCASTING for an undisclosed price. JVC is also buying Regional Mexican WBGF (RADIO LOBO) and Urban Inspirational WSWN-A (SUGAR 900)/BELLE GLADE, FL from BGI BROADCASTING, L.P., also for an undisclosed price.
JVC MEDIA CEO JOHN CARACCIOLO said, “We are honored and privileged to welcome these great radio signals into the JVC family. We love this business and we see a huge opportunity to grow in this market.” COO VICTOR CANALES added, “This is a great market, and we are excited to continue the trend of fun, local radio. We plan on adding staff in FLORIDA and NEW YORK and to make a big splash with marketing and programming when we begin operating the stations."
In another deal yet to appear in the FCC database, FEDERATED MEDIA's TALKING STICK COMMUNICATIONS is selling Sports WAOR (ESPN 95.7)/NAPPANEE-SOUTH BEND, IN to ST. JOSEPH CATHOLIC RADIO for $925,000. KOZACKO MEDIA SERVICES' GEORGE W. KIMBLE represented TALKING STICK and JON YINGER represented the buyer in the deal.
In deals filed with the FCC, 930 AM WIZR RADIO, LLC is selling Classic Hits WIZR-A-W275BS (Z102.9 AND AM 930)/JOHNSTOWN, NY to CRANESVILLE BLOCK COMPANY, INC. for $150,000 plus a time brokerage agreement before closing.
Control of BAS BROADCASTING INC., licensee of Hot AC WCPZ (MIX 92.7) and Adult Standards WLEC-A/SANDUSKY, OH; AC WFRO-F (EAGLE 99)/FREMONT, OH; Country WMJK (COAST COUNTRY 100.9)/CLYDE, OH; Oldies-Full Service WMVO-A and AC WQIO (93.7, THE NEW SUPER Q)/MOUNT VERNON, OH; and Classic Hits WOHF (92.1 THE WOLF)/BELLEVUE, OH, is being transferred in a stock deal that has current 42.42% owner JAMES A. LORENZEN, the company's Retirement Savings Plan (owning 16.15%), and minority shareholders JOSEPH MINNICK (2.7%) and JEFFREY NEIDERT (5.3%) selling their stock and leaving current 26.27% owner THOMAS W. KLEIN with a majority 65% and MICHAEL P. HERBERT and ANTHONY J. PARADISO with 17.5% each. The shares being sold by LORENZEN, MINNICK and NEIDERT are valued at $191.245.15, while PARADISO and HERBERT are paying a total of $552,000 for 134.5 shares of the company and the Retirement Savings Plan has been terminated with all shares going to KLEIN.
AMERICAN EDUCATIONAL BROADCASTING, INC. is selling K274CM/COLLEGE STATION, TX to BRYAN BROADCASTING LICENSE CORPORATION for $95,000.
COLUMBUS BROADCAST CORP INC. has requested an extension of its Silent STA for WWQT-A/TRYON, NC for financial reasons and while the station is being sold to the POWER FOUNDATION; the transmitter also failed as the parties readied the station for a return to the air.
OPUS BROADCASTING has closed on the sale of three stations in the ALEXANDRIA, LA market, including Country KLAA-F (LA 103.5)/TIOGA, LA, Classic Country KBKK (105.5 K-BUCK)/BALL, LA, and Christian AC KEZP (104.3 THE BRIDGE)/BUNKIE, LA, and four in MONROE, LA, including AC KZRZ (SUNNY 98.3)/WEST MONROE, Rock KXRR (ROCK 106)/MONROE, Country KMYY/RAYVILLE, LA, and Top 40 KQLQ (HOT 103.1)/COLUMBIA, LA, plus its programming and ad sales services deal with FLINN BROADCASTING for AC KEDG (SUNNY 106.9)/ALEXANDRIA, LA and an ad sales deal with KP MUSIC GROUP for Urban AC KJMG (MAJIC 97)/BASTRUP-MONROE, LA to MAPLETON COMMUNICATIONS for $2.2 million.
RADIO ASSIST MINISTRY, INC. has closed on the sale of nine FM translators -- K238BM/DES MOINES, W278BO/SAVANNAH, K250BC/AMES, IA, W291CM/APPLETON, WI, W292ED/SPRING HILL, TN, K245BN/SALINA, KS, W287BZ/OSHKOSH, WI, W229BC/NEW BALTIMORE, MI, and W249CT/WILLIAMSBURG, VA -- to EDUCATIONAL MEDIA FOUNDATION. The agreement for the stations stated that the seller and sister EDGEWATER BROADCASTING, INC. owe EMF on promissory notes totaling $462,834.67 and that EMF is exercising a call option to buy the stations for $1 each. In a separate deal, EDGEWATER has closed on the sale of K279BX/KNOXVILLE, IA, K252FE/COLUMBIA, MO, K253BG/ST. JOSEPH, MO, and W260CK/SLIDELL, LA to EMF under the same conditions.
JUDSON GROUP, INC. has closed on the sale of Classical WSKP-A (formerly WCRI-A)/HOPE VALLEY, RI to RED WOLF BROADCASTING CORP. for $12,500.
WORLD RADIO NETWORK, INC. has closed on the sale of K286BT/BEEVILLE, TX to SAGRARIO PENA for $15,000.
And E-STRING WIRELESS, LTD has closed on the sale of K235CG/PONCA CITY, OK to OKLAHOMA STATE UNIVERSITY for $45,000.
Also, SAN ANTONIO PUBLIC SAFETY ALLIANCE has been granted a construction permit for a new low power FM station at SAN ANTONIO, TX.
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