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West Virginia Combo Sold
December 1, 2006 at 5:55 AM (PT)
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J & K BROADCASTING INC. sells Country WVAR-A/RICHWOOD, WV and Gospel WAFD (SOLID GOSPEL)/WEBSTER SPRINGS, WV to NUNZIO A. SERGI and DANIEL W. FINCH JR.'s SUMMIT MEDIA INC. for $1.239 million ($150,000 down, an $850,000 promissory note, and payoff of up to $239,000 of the seller's outstanding debt).
SERGI owns 100% of the CP for WKQV/RICHWOOD and the licensee of Country WDBS (THE BOSS 97 FM) and Oldies WSGB-A (THE MIGHTY 1490)/SUTTON, WV.