In May 2020, Michael Stapleford was engaged in several transactions, each of which involved radio station sales.
Now, Stapleford-run Magnum Broadcasting has agreed to buy a low-power television station serving Key West, Fla. — a sign that he wishes to operate a multimedia business serving the Florida Keys.
For $30,000, Stapleford is agreeing to purchase WGZT-LD 27 in Key West, Fla.
The seller is Jeanette Maria Bommersbach, who has been the station’s licensee for several years.
A $1,000 deposit has been made and is being held by Bommersbach’s FCC attorney, Dan J. Alpert. Remaining payments will be monthly, at a rate of $534.08, to reflect 4% annual interest.
In fact, it was Bommersbach that saw the WGZT call letters deleted and its license cancelled by the FCC in June 2016.
Little is known about that incident. However, what is known is that with the FCC’s blessing WGZT will become a sibling to LGBT-friendly Rhythmic WGAY-FM “Party 105.7,” licensed to Sugarloaf Key. Magnum acquired the property in 2017.
It will also be a part of a media company that includes WKEZ-FM 96.9 in Islamorada and WPIK-FM 102.5, which uses a tower on Cudjoe Key to serve the center of the Florida Keys, and such cities as Marathon and Islamorada.
Magnum is nearly two years in to a five-year agreement to purchase WPIK for $180,000. Payments are being made via a 60-month Promissory Note with a 7% APR.
