Johnson A. Edosomwan, who recently filed to acquire a pair of AM stations outside of Washington DC, now has a deal to buy an AM station in the Richmond market. And in the Richmond deal, the seller will also be donating an FM.
The station being bought is WGGM-AM, licensed to Chester VA. It will come from Hoffman Communications Inc., and will go to Edosomwan’s Radio Companion LLC.
The FM is WZEZ-FM, and it is coming from WZEZ Inc. and going to One God Ministry – a Global Church, which is based in Fairfax VA.
The selling entities are both controlled by Hubert N. Hoffman III.
The AM carries a price tag of $1.9M cash. The buyer may have as many as six extensions on the due date, but each time an extension is used, it must make a good faith deposit of $100K.
In the Washington area deal, Edosomwan is getting WKCW-AM and WKDL-AM, both licensed to Warrenton VA, from Bruce Houston’s Metro Radio Inc. for $2.7M. The Warrenton transaction was filed with the FCC 2/16/10.
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