Clear Channel Buying Sacto Move-In
January 2, 2008 at 5:32 AM (PT)
SIERRA BROADCASTING CORPORATION is selling KJDX/SUSANVILLE, CA to CLEAR CHANNEL for $2.75 million. CLEAR CHANNEL is being assigned the option to buy the station from SPECTRUM SCAN-SUSANVILLE, LLC; the station has a CP to move to POLLOCK PINES, CA and downgrade to a Class A but put a signal into the SACRAMENTO market.
In other deals filed with the FCC, SHOECRAFT BROADCASTING, INC. is selling KIKO-A/MIAMI, AZ and KIKO-F/CLAYPOOL, AZ to JOHN LOW's 1TV.COM, INC. for $725,000 plus $250,000 if the FM gets an upgrade from the FCC.
AMERICAN FAMILY ASSOCIATION is buying WTLG/STARKE, FL from STARKE CHRISTIAN EDUCATION RADIO & T.V. for $225,000.
NATHAN DRAGE is transferring his interest in BROADCASTING CORPORATION OF AMERICA, licensee of KUPA/PEARL CITY, HI, to NUPETCO ASSOCIATES for cancellation of indebtedness.
HORIZON CHRISTIAN FELLOWSHIP is selling KHZY/OVERTON, NE, KHZZ/SARGENT, NE, and several translators in NEBRASKA to MISSION NEBRASKA, INC. for $900,000 ($550,000 in a promissory note) plus a time brokerage agreement.
KSRM, INC. is selling KSRM, KSLD, and KKIS/SOLDOTNA, AK, KWHQ/KENAI, AK, and KFSE/KASILOF, AK to BLAYDE COMMUNICATIONS, INC. for $2.2 million including a promissory note for $420,000, a carry back note for $300,000, and payoff of and assumption of debt. The seller is also subject to a noncompete agreement.
STEVE SELLERS is selling his 100% interest in DODGE BROADCASTING, INC., licensee of WUFF-A-F/EASTMAN, GA, to STAN CARTER for $200,000 ($180,000 in a one-year promissory note). SELLERS is also selling his 50% interest in CINECOM BROADCASTING SYSTEM, licensee of WYIS-A and WYSC/MCRAE, GA to CARTER for $100,000 ($90,000 in a one-year promissory note).
And DIVINE MERCY COMMUNICATIONS, INC. is buying WMEL-A/MELBOURNE, FL out of receivership for $650,000. Receiver DAVID RYDER is selling the property on behalf of TWIN TOWERS BROADCASTING, which went into receivership in 2005.