FCC OKs Lincoln Financial-Entercom Deal

LFM Purchase Official

The FCC has approved the sale of LINCOLN FINANCIAL MEDIA's radio stations to ENTERCOM for $105 million. In conjunction with the long-delayed approval, ENTERCOM has filed to convert LINCOLN FINANCIAL MEDIA's holding companies into DELAWARE Limited Liability Company as ENTERCOM DENVER II, LLC, ENTERCOM ATLANTA LICENSE, LLC, ENTERCOM MIAMI LICENSE, LLC, and ENTERCOM SAN DIEGO LICENSE, LLC, effective immediately upon closing.

In other filings with the FCC, RADIO DISNEY SACRAMENTO, LLC is selling KIID-A/SACRAMENTO to PUNJABI AMERICAN MEDIA, LLC for $800,000.

VICTOR J. ANDRADE is transferring 49% of THE VOICE RADIO, LLC., licensee of Classic Rock simulcast WJKI/BETHANY BEACH, DE-WXSH/POCOMOKE CITY, MD  (THE VAULT), Spanish Hits WKDB (MAXIMA 95.3)/LAUREL, DE, and Urban WZEB (POWER 101.7)/OCEAN VIEW, DE to EDWIN G. ANDRADE for $10. After the transaction, VICTOR ANDRADE will own 1% of the company and EDQIN ANDRADE will hold 59%.

REACH COMMUNICATIONS, INC. is selling W247AQ/TROPICAL GULF ACRES, FL to SUN BROADCASTING INC. for $35,000. The station will rebroadcast Sports WFWN-A (1240/1270 THE FAN)/FORT MYERS, FL.

NORMIN BROADCASTING CO. has closed on the sale of AC KSKK (THE ARROW 94.7)/STAPLES-BRAINERD, MN to JAMES INGSTAD's RADIO FARGO-MOORHEAD, INC. for $900,000.  The station has filed for a frequency change and downgrade to Class C3 and move to FRAZEE, MN, which would put it in the DETROIT LAKES area.

DENNIS JACKSON has closed on the sale of the construction permit for W279CI/DANBURY, CT to THE BERKSHIRE BROADCASTING CORP. for $250,000.

BUTTERFIELD BROADCASTING CORP. has closed on the sale of K291BS/RICHLAND, WA to ALEXANDRA COMMUNICATIONS, INC. for $30,000.

MOUNTAIN AREA INFORMATION NETWORK has closed on the transfer of low-power FM WPVM-LP/ASHEVILLE, NC to FRIENDS OF WPVM, INC. for $25,000 ($20,000 assumption of debt, $5,000 in cash), representing the depreciated fair market value of the physical equipment and facilities.

And CANTROAIR COMMUNICATIONS, INC. has closed on the swap of W260AN/TROY, PA to GEOS COMMUNICATIONS for W275AB/ELMIRA, NY.

Also, NEW ENGLAND PUBLIC RADIO FOUNDATION has purchased the tower site of its noncommercial News-Talk WNNZ-A/SPRINGFIELD, MA from iHEARTMEDIA for $167,809, reports the SPRINGFIELD REPUBLICAN/MASSLIVE.COM.  The 19.6 acre property has been leased to the buyer by iHEARTMEDIA since 2007; the station's license and equipment were sold to NEPR in 2010 for $600,000.

« see more Net News