Rick Snavely, president of Family Life Ministries, has a second FM to work with in the Wilkes-Barre/Scranton PA market following an agreement with Telikoja Educational Broadcasting for WCIN-FM. The Tunkhannock station will double up with WCIG-FM Dallas PA.
The seller is Telikoja Educational Broadcasting Inc., headed by Kevin M. Fitzgerald. Telikoja will get $275K in value for WCIN. $5K is in escrow, $70K cash will be paid at closing, and there will be five payments annually of $25K, on the anniversary of the contract date, 5/17/10. That adds up to $200K.
Telikoja will also receive Scranton PA FM translator W255BO. The 10 watt 98.9 MHz facility is being valued at $75K.
The WCIN package also comes with a CP for a new translator, also licensed to Scranton.
The contract provided for a buyer LMA of WCIN prior to closing of the transaction.
RBR-TVBR note: Now available RBR-TVBR’s ‘2010’ new guide to help chart a course through the treacherous waters of buying, owning and selling radio or television stations.
Click to purchase: “Profitably Buying and Selling Radio Stations,” or 1-800-288-4677, ext. 5022 for $49.95, paperback, $39.95, e-book.
