Alabama radio deal will help close one in Oregon


SoldMost escrow deposits sit around gathering interest, but in the case of the one that is part of the acquisition of WJUV-FM Cullman AL, it is being put to a more practical use.

WJUV is being sold by Centro Comunitario Juvenil Mahanaim Inc., a non-profit headed by Arturo Gonzales.

The buyer is Divine Word Communications Inc., headed by Gene and Jeaniene Church.
The price for the station will be $50K, with $10K put in escrow, $30K paid in cash at closing and a $10K promissory note all in the compensation package.

According to the contract, CCJM will use the escrow money to close its pending acquisition of KGIO-FM Astoria OR and a related translator.

Meanwhile, back in Alabama, the parties have the option of striking a time brokerage agreement on WJUV pending its closing day.

The station is a Class A on 88.3 MHz with 88 W @ 312’. Cullman is located in unrated territory about halfway between Birmingham (to its south) and Decatur (to its north).