WNTD/Chicago Sold For $15 Million; EMF Closes On 3 In Upstate NY
July 9, 2007 at 5:34 AM (PT)
ARTHUR LIU's MULTICULTURAL RADIO BROADCASTING is selling brokered Spanish WNTD-A/CHICAGO to MARK C. FOLLETT's SOVEREIGN CITY RADIO SERVICES for $15 million. The buyer is owned by ALL THAT MATTERS LLC, wholly owned by FOLLETT, who also serves as Chairman/CEO of religious station operator STARBOARD MEDIA FOUNDATION's ADVANCE AXQUISITION subsidiary. STARBOARD brokers tiome on crosstown WAIT-A.
EMF Closes On Three-Station Buy From Galaxy
EDUCATIONAL MEDIA FOUNDATION closes on its purchase of Contemporary Christian WBOE and Christian Rock WOOB/ALBANY, NY and Contemporary Christian WSCP-F (K-LOVE)/PULASKI-SYRACUSE from GALAXY COMMUNICATIONS for $3.5 million. EMF has been leasing the stations since FEBRUARY.
JOHN PIERCE AND CO. served as broker for EMF and BILL SCHUTZ was the broker for GALAXY in the transaction.
More Sales: Virginia Cluster, KBAC Prices Disclosed
CLEAR CHANNEL's sale of six central VIRGINIA stations to GEORGE REED's SISTEMA 102 LLC now has a price attached, as the FCC filing reveals that REED is paying $7.75 million for Talk WCHV-A, Hot AC WCJZ (MIX 107.5), and Sports WKAV-A (THE TICKET)/CHARLOTTESVILLE; Country WCYK (NEW COUNTRY 99.7)/STAUNTON; Top 40 WHTE (HOT 101.9)/RUCKERSVILLE-CHARLOTTESVILLE; and Oldies WSUH (SUPER HITS 102.3)/CROZET-CHARLOTTESVILLE.
The official price tag for HUTTON BROADCASTING's purchase of AAA KBAC (RADIO FREE SANTA FE)/SANTA FE, NM from EDUCATIONAL MEDIA FOUNDATION in a spinoff from the latter's purchase of two stations from CLEAR CHANNEL is $650,000. HUTTON gets KBAC and a booster in the previously reported deal, which has been filed at the FCC.
In other FCC sale filings, JOE WALKER and BILL KURTIS' TALLGRASS BROADCASTING LLC is buying the construction permit for a new FM in PAWHUSKA, OK from JOE G. GREGORY for $206,000 cash.
Rev. GRACE ADAM is resigning from SELBY GOSPEL BROADCASTING CORPORATION, licensee of Gospel KNOF/ST. PAUL-MINNEAPOLIS, and transferring her interest (as sole member) in the licensee to NORTH CENTRAL UNIVERSITY for no cash consideration.
The EPPERSON family swaps a station between family members, as NANCY EPPERSON's CHESAPEAKE-PORTSMOUTH BROADCASTING CORP. sells Religion WLES-A (THE TRUTH)/BON AIR-RICHMOND, VA to STUART EPPERSON's TRUTH BROADCASTING CORP. for $125,000 in a note with 5% interest. TRUTH has been programming the station since FEBRUARY.
JOHN R. WOOD is selling his 90% stock interest in WOOD BROADCASTING INC., licensee of Sports WRKM-A and Country WUCZ/CARTHAGE, TN, to 10% owners DENNIS and TRACY BANKA for $500,000 in a promissory note.
RADIO ASSIST MINISTRY INC. is selling FM translator K225AP/PROVO, UT to BLAIR AND SUSAN FEULNER. The translator will rebroadcast noncommercial KCPW/SALT LAKE CITY. And COVENANT NETWORK is donating FM translator K294BE/ST. JOSEPH, MO to CATHOLIC RADIO NETWORK INC., which will rebroadcast noncommercial Religion KJCV/COUNTRY CLUB, MO.