Station Deals: Idaho, Florida, Georgia, Louisiana
July 27, 2007 at 5:46 AM (PT)
ROBERT E. COMBS' KDJQ, LLC sells Regional Mexican KDJQ-A/MERIDIAN, ID to SUZANNE ARLIE's CHURCHILL MEDIA for $962,500, including sums paid to ZIONS BANK on behalf of the sellers to pay debt and $14,000 of rental arrearages. The buyer has been operating the station under a time brokerage agreement since APRIL 24.
In another deal filed with the FCC, the owners of FLAG RADIO, INC., permittee of new WAYI-A/BUNNELL, FL, restructure their interests from a 50-50 split to JAMES E. MARTIN increasing his interest from 50 to 70% and GARY SMITHWICK reducing his interest from 50 to 30%. MARTIN and SMITHWICK filed a similar restructuring for their interests in Country-Adult Standards WPLK-A/PALATKA, FL yesterday.
TRI-STATE COMMUNICATIONS is selling Classic Country daytimer WPGY-A/ELLIJAY, GA to EXPONENT BROADCASTING for $50,000. BYRON DOBBS and RANDY GRAVLEY are officers, directors, and shareholders of both buyer and seller.
And RADIO & INVESTMENTS, INC. sells Adult Standards KFRA-A/FRANKLIN, LA to CASTAY MEDIA, INC. for $125,000 ($120,000 in a promissory note).