In July 2015, a collection of 9 AMs, an FM and an FM translator were sold by what was left of the former Davidson Media Group. The buyer? A licensee controlled by Mark Janbakhsh.
He’s now in divestment mode, and has signed off on the sale of one of those AMs acquired nearly six years ago.
An asset purchase agreement was finalized Wednesday (3/5) that sees Janbakhsh’s TBLC Media sell WSGH-AM 1040 in Lewisville, N.C.
WSGH in 2015 was marketed as one of three Winston Salem-Greensboro stations, as Davidson acquired it along with the other 10 properties from Davidson for $3.1 million.
Now, Edward A. Baker-led Base Communications Inc. is grabbing it.
And, it’s paying a mere $40,313.30 for the station. Sort of.
Base is to be credited against the purchase price at closing all of the unpaid tower rent for WSGH owed to an affiliate of Base. The sum of the money owed through April 30 in back rent? It’s $40,313.30.
It reflects yet another COVID-19 fueled fiscal challenge seen by radio operators across the latter half of 2020 and into the first quarter of 2021.
Representing TBLC is Fowler Media Consulting, which in a separate agreement is receiving a token payment of $1 to handle all brokerage services.
Given the circumstances of the license transfer, it appears Fowler was unsuccessful in attracting other offers for WSGH.
What is the future for WSGH? Baker’s ties to regional Worship & Praise Music operation Spirit FM suggest a non-secular focus once the new ownership takes control of the station.
WSGH is presently dark under a STA and is licensed for 9,800 watts daytime/182 watts nighttime, from 3 towers. It must reduce power at night to protect WHO/Des Moines.
