A Class C3 station offering “Super Hits of the ’60s and ’70s” in a rural part of this Southern state is trading hands. At the same time, a business decision in the Outer Banks of North Carolina has effectively reduced “Your Classic Rock” to a single signal, ending a simulcast. Those are the two deals under the microscope in TRANSACTIONS TODAY.
In an asset purchase agreement filed with the FCC on Thursday (5/17),
TBTA Ministries is purchasing Class C3 WHPH-FM 97.7 “The Peach” in Jemison, Ala., for $525,000.
The seller is Great South Wireless LLC, led by Paul Reynolds.
Terms call for the payment of $200,000 at closing. The remaining balance will be placed in a Promissory Note bearing an interest rate of 5%; it is payable in equal monthly payments of $7,484.52.
A $26,250 downpayment has been made.
Serving as the exclusive broker in this transaction is Jorgenson Broadcast Brokerage.
TBTA Ministries is led by Kenneth Layton.
WHPH serves an area south of Birmingham.
‘Your Classic Rock’ Just Got Dealt
Class C2 WFMZ-FM 104.9 in Hertford, N.C., which simulcasts with Class C3 WZPR-FM 92.3 in Nags Head, N.C., is the bigger of the two signals serving northeastern North Carolina and the Outer Banks.
A business decision by its owner has effectively reduced “Your Classic Rock,” how the stations are branded, to the smaller 10kw Nags Head signal.
An Asset Purchase Agreement filed Thursday (5/17) with the FCC shows WFMZ being sold by Hengooch LLC to East Carolina Radio of Hertford Inc. for $150,000.
Hengooch is an affiliate of Max Media, the Hampton Roads-based company.
A $12,500 payment has been placed in escrow with agent Brooks, Pierce, McLendon, Humphrey & Leonard LLP.
There is no broker associated with this transaction.