Once again, we had a station-trading week in which one deal accounted for almost all of the value. Unfortunately, the only other deal to crack the $1M barrier was essentially a repo. One 2015 trend was stood on its head, however.
That would be what was traded. During April 27 through May 1, television was the medium of choice.
Only three radio stations changed hands, and one of those was a non-cash deal. What is a lesser suspense builder than the traditional drum roll? That’s what we need to reveal the total spent on radio stations. How about: Sound the kazoo! Total value was $310,000.
Television was where it was at, and most of it was tied to Gray Television’s $10,250,000 acquisition of WADM-TV Presque Isle ME.
A sad deal worth just under $1.6M was a Mobile-Pensacola station in default on a promissory note.
A promising deal was for a Georgia LPTV that has FCC permission to move to Atlanta GA.
Altogether, $12,298,422 was spent on eight television stations.
Add in the radio total, and the value traded during the week comes to $12,497,422.
Here are the week’s top deals:
$10,250,000: WAGM-TV Presque Isle ME from NEPSK Inc. to Gray Television. Includes translator W16DA-D Fort Kent ME. FCC file date: 4/2/14
$1,577,422: WPAN-TV Mobile AL-Pensacola FL (Ft. Walton Beach FL) from Franklin & Hoynacki Communications to B&C Communications. Debt deal, seller defaulted on promissory note. Deal to sell station 2/26/14 for $580K failed to close. FCC file date: 4/27/14
$310,000: WLVO-LD Cumming GA from Tugart Properties LLC, headed by Managing Member Douglas M. Sutton Jr. to United Media Network. Station holds CP to relocate to Atlanta. Broker: Jorgenson Broadcast Brokerage (seller). FCC file date: 4/2/15
