The corridors of Wall Street will not be shaken by the latest in television station trading from the northwest portion of Ohio. WMNT-CA is going to a new owner, and even that’s not much of a change – the buyer has been running it in an LMA for over a year and a half.
The station is being sold by Robert Pitts’ Matrix Broadcast Group Inc., and is headed for Community Broadcast Group Inc., primarily owned by Jesse Weatherby. The price: suffice it to say that if Weatherby can come up with enough pocket change to amount to the equivalent of four quarters, that portion of the contract will have been met.
CBG has been running the station in an LMA/option since 12/24/08.
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.