Price For Gap-CC Deal: $139 Million; Polnet Buys Into Tampa Bay
April 27, 2007 at 5:42 AM (PT)
CLEAR CHANNEL's previously announced sale of clusters in ABILENE, AMARILLO, LUBBOCK, LUFKIN, MIDLAND-ODESSA, TEXARKANA, TYLER, VICTORIA, WICHITA FALLS, LAWTON, and SHREVEPORT to GEORGE LAUGHLIN's GAP BROADCASTING now has a price attached, as the FCC filing reveals that GAP is paying $139 million for the stations and is also taking over in an LMA prior to closing.
POLNET RADIO is buying into the TAMPA BAY market with the purchase of Urban AC WRXB-A/ST. PETERSBURG BEACH, plus Talk WTMY-A/SARASOTA, for $1.1 million from METROPOLITAN RADIO GROUP. JOHN L. PIERCE of JOHN PIERCE AND CO. served as exclusive broker for the deal.
In another deal filed with the Commission, CARLOS LOPEZ is transferring his half-interest in FM translators W227BZ/CHAMBERSBURG, PA and W297AQ/ERIE, PA to joint-venture partner MICHAEL CELENZA for no consideration.