A deal for three stations in the Wilkes-Barre/Scranton market will give Bold Gold Media Group an unusual five-AM, two-FM superduopoly cluster. For the seller, Ira Rosenblatt’s WS2K Radio LLC, it’s the second recent sale in the market.
The stations are WCDL-AM & WLNP-FM Carbondale PA and WNAK-AM Nanticoke PA. Bold Gold, headed by Vince Benedetto, Robert Tambur and Robert Vanderheyden, will pay $500K for the trio. $25K will go into an escrow account, $75K more will be paid at closing, and a $400K balloon payment will be paid no earlier than 9/30/10 or on the anniversary of closing.
Rosenblatt just sold WAZL-AM Hazleton PA to Alexander Sloot’s Panorama PA Inc. for $105K in a deal filed with the FCC at the very end of August.
Bold Gold will add the trio of stations to the four it already has in the market. WWRR-FM Scranton plays Adult Hits, and its three AMs – WICK-AM Scranton, WYCK-AM Plains and WFBS-AM Berwick – all ply the Sports format.
As for the three on the way, WLNP-FM has been running an AC format, WCDL has been juggling AC with Spanish programming and WNAK has been playing Standards.
