Galaxy Closes On Utica-Rome Deal
October 25, 2007 at 11:41 AM (PT)
ED LEVINE's GALAXY COMMUNICATIONS has closed on its purchase of nine stations in the UTICA-ROME market from CLEAR CHANNEL. GALAXY obtained Sports WUTQ-A, Rock WOUR, and W231BI/UTICA, Classic Hits WOKR and Sports WADR-A/REMSEN, Sports WRNY-A/ROME, Top 40 WSKS/WHITESBORO and Sports WIXT-A, Top 40 WSKU, W248AN, and W274AT/LITTLE FALLS for $3.1 million in the deal, and spun WUTQ-A, WADR-A and WSKS-WSKU to ROSER COMMUNCIATIONS NETWORK for $650,000, then sold WOKR to EDUCATIONAL MEDIA FOUNDATION for $350,000 along with GALAXY's WRCK and W231BI for $1.224 million.
KALIL AND CO. served as exclusive broker for the CLEAR CHANNEL-GALAXY deal. JOHN PIERCE AND CO. and BILL SCHUTZ served as brokers for the WRCK sale.