WLGD Spun Into Trust
August 19, 2009 at 5:13 AM (PT)
CAPITOL BROADCASTING's SUNRISE BROADCASTING, LLC is spinning Spanish WLGD (LA GRAN D 98.7)/JACKSONVILLE, NC into a trust, CAROLINA BROADCASTING AND PUBLISHING, INC., for eventual resale. CAPITOL acquired WLGD when it bought the NEXTMEDIA WILMINGTON, NC cluster last year; the spin satisfies a condition to the previous deal that requires one station to be sold off.
In another deal filed with the FCC, TOL-TOL COMMUNICATIONS, INC. is selling Urban Oldies/Gospel WILA-A/DANVILLE, VA to TOM BIRCH's LAKES MEDIA, LLC for $150,000.