A Class A FM and its 1kw Class D daytime-only AM sibling serving a small city along the Allegheny River in Northwest Pennsylvania have just been traded.
It’s an area of interest to a newly formed radio broadcasting company headed by Tom Langmyer, but he’s not the buyer of this combo.
Twilight Broadcasting, a New Freedom, Pa.-based company led by Robert Lowe, is acquiring WKQW-AM 1120 & FM 96.3 in Oil City, Pa.
Also included: unbuilt FM translator W281CA in Oil City, which would give WKQW-AM 24/7 coverage of the town to the southeast of Erie.
The seller is Clarion County Broadcasting Corp., headed by William Hearst.
It’s a first entry into radio station ownership for Twilight and Lowe, for a purchase price of $265,000.
A $12,500 deposit has been made by the buyer, and a $107,500 second escrow deposit is to be paid.
Serving as the broker in this transaction is Roger Rafson of CMS Station Brokerage.
Serving as Twilight’s legal counsel in this deal is Scott Cinnamon.