It’s the end of the line for two former Main Line Broadcasting stations in the Old Dominion that Alpha Media acquired in July 2014 as part of a four-market deal worth $57 billion brokered by Media Venture Partners (now MVP Capital Partners).
Who’s the buyer?
Perhaps one of the most prolific acquirers of radio stations in recent memory, and the parent of the KLove and Air1 inspiration hit music networks.
In a transaction valued at $2 million, Educational Media Foundation has entered into an agreement to acquire Class B1 WLFV-FM 98.9 in Midlothian, Va., and Class A WARV-FM 100.3 in Petersburg, Va.
Both stations serve the Richmond market, with WARV’s signal focusing on the southern portion of the metro.
George Reed of Media Services Group represented Alpha in this transaction; Wiley Rein LLP served as Alpha’s legal representative.
EMF again turned to Wilkinson Barker Knauer LLP as its legal representative for this transaction.
WARV & WLFV presently simulcast as “The Wolf.” Upon closing, the stations are expected to take on one of EMF’s nationally distributed noncommercial Contemporary Christian formats.
The stations could remain in a simulcast, or split so that each one of EMF’s formats gains a Richmond FM.
The deal for WARV & WLFV comes following the early November announcement that EMF is acquiring far-west suburban WZEZ-FM 100.5 in Goochland, Va., from Delmarva Educational Foundation for $125,000.
EMF will take WZEZ to noncomm status; it is not known as to the exact date of the switch from its current simulcast of WXGI-AM “ESPN Radio.”
In other TRANSACTIONS TODAY for Thursday, Dec. 8:
- A business reorganization for estate planning purposes has led Valley Broacasting and Communications, led by Earl Barnette, to transfer two full-power stations and one FM translator in Big Stone Gap, Va., to EWB Holdings LLC. There is no written agreement for this deal, with a Form 315 filed with the Commission. The stations involved are Class C2 WAXM-FM 93.5 and translator simulcast partner W223AA at 92.5 MHz, and Class D WLSD-AM 1220. The stations serve an area northwest of the Johnson City-Kingsport, Tenn., area.