WNKT-FM, which used to serve the Charleston SC market from St. George SC, is now located in Eastover SC, on the eastern fringe of the Columbia market. That move opened up the opportunity for Citadel Broadcasting to recall WMGL-FM Ravenel to its Charleston cluster from a trust.
The station had been under the TLC of Media Venture Partners broker Elliot Evers, under the holding company known as The Last Bastion Station Trust LLC as Trustee.
WMGL-FM, an Urban AC on 107.3 MHz, replaces WNKT in an eclectically-formatted cluster that also includes News-Talk 1250 WTMA-FM, Urban 93.3 WWWZ-FM, CHR 95.1 WSSX-FM and Country 96.9 WIWF-FM.
Like many radio companies undergoing restructuring, Citadel had to break up outsized local clusters that had been allowed to exist under grandfathering provisions when its ownership lineup underwent significant change, Clear Channel being the most prominent of these companies.
RBR-TVBR observation: Stations have gone into various operating trusts, usually in hopes of finding a buyer – but in the current stagnant station trading environment, most of the movement we’ve seen out of the trusts has been either a recall due to changed local market conditions, or an exit via donation.
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Click to purchase: “Profitably Buying and Selling Radio Stations,” or 1-800-288-4677, ext. 5022 for $49.95, paperback, $39.95, e-book.
