Ownership 'CAP

Perhaps a better way to phrase it would be the ownership of 'CAP, or WCAP-AM, is about to change. Radio veteran Clark Smidt is part of an ownership group which has struck a deal to acquire the Lowell MA senior band station. Smidt is buying the station, along with Samuel Poulton and others, under licensee name Merrimack Valley Radio. The price is 2.66M, 532K of this will be in the form of a promissory note. The seller is Maurice Cohen's Northeast Radio Inc. Smidt didn't have to look very far for a broker to help put this deal together - along with his buyer's hat, he wore the broker hat as well.

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