NextMedia Spins Three Stations Into Trust For Sale
April 2, 2010 at 4:29 AM (PT)
NEXTMEDIA is placing two stations in suburban CHICAGO -- AC WZSR (STAR 105.5)/WOODSTOCK, IL and Oldies WWYW (Y103.9)/DUNDEE, IL -- and Adult Hits WSSM (SAM 105.1)/HAVELOCK, NC into a trust as part of its emergence from bankruptcy. THE MILE HIGH STATION TRUST, LLC, headed by ELLIOT EVERS, will take the stations to facilitate spinning the stations off to satisfy ownership caps. NEXTMEDIA had previously contended that the stations being spun off did not actually compete in the CHICAGO and GREENVILLE-NEW BERN markets and therefore should be grandfathered.
In other station transactions filed with the FCC, BB&T BANK has foreclosed on PEREGON COMMUNICATIONS, INC., licensee of Spanish Hits WQVA-A (RADIO RITMO)/LEXINGTON, SC. The bank took back the property after it bid $520,000 at auction.
And ODYSSEY BROADCASTING COMPANY, INC. is selling Adult Standards WFHT-A/AVON PARK, FL to DAVE MCCOY's FINANCIAL PROFESSIONALS INTERNATIONAL, INC. for $150,000.
In silent STA action, WASATCH RADIO, LLC has taken a booster at BOUNTIFUL, UT for its Contemporary Christian KKAT-F (K-LOVE)/OREM-SALT LAKE CITY off the air because it has been causing interference to the primary station's signal. The booster will be kept silent while the company performs tests to determine what the problem might be. WASATCH is the trustee spinning off KKAT from CITADEL.
1TV.COM, INC. has taken Classic Country KBSZ-A/APACHE JUNCTION, AZ off the air after the station lost its transmitter site. The site's owner claimed that the station was causing "problems to livestock which grazed on the site." The station is building a new transmitter operation at a different site.
And CHRISTIAN BROADCASTING OF DE RIDDER, INC. has taken KDLA-A/DE RIDDER, LA off the air after its backup transmitter shorted out in JANUARY. The station tells the FCC that it hopes to restore service within the next 60 days.