WNTD-AM Chicago is getting a new owner. M&S WNTD LLC is stepping forward to pick up the station from Mark Follett’s Sovereign City Radio Services. Follett retains interest in other Chicago stations.
M&S will pay $17.5M cash for the station, according to the contract. The company’s principals include Vernon C. Sumnicht, Mark J. Christopher, and – from St. Mary of the Immaculate Conception, Fr. Mark P. Vander Steeg.
The presence of the latter member of the purchasing team is an indication that the station will continue to be involved in Catholic programming, which it currently does during the day. At night, it’s said to broadcast Sovereign City’s eclectic music format.
RBR-TVBR observation: Dealmakers from coast to coast may find reason to applaud this deal. Sovereign bought the station from Multicultural Radio back in 2007 for $15M, according to the older contract, making it a rare case of a station with a new sale price that has gone up rather than down.
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