If you’re wondering if there has been an abundance of radio station deals in the last several weeks involving religious institutions, you’re right.
The lone two deals featured in the latest RBR+TVBR TRANSACTIONS TODAY involve properties devoted to Christian programming.
LAMM AM SET FOR REBIRTH
In the first of our two heavenly deals, silent WMPM-AM 1270 in Smithfield, N.C., and its FM translator — W232DO at 94.3 MHz — are being dealt by Family Media Group to Johnson Broadcast Ventures Ltd.
WMPM is presently silent, and had been branded as “Johnston County’s Christian Radio Station” until seven months ago.
That’s because Family Media Group owner Carl Lamm retired, and with no immediate buyer opted to silence WMPM, at least temporarily, via a STA. This occurred Feb. 28.
Now WMPM is poised to return to the airwaves under Johnson, led by Jimmy Johnson.
No … we’re not talking about that Miami coach who insisted on running the football.
Rather, this Johnson is best known for his sale of WCPS-AM 760 in Tarboro, N.C., in April. Johnson’s other property, WCBT-AM 1230 in Roanoke Rapids, Va., remains available following a failed sale in 2017 to Jimmie Bell’s Bell Media Broadcasting.
For WMPM and the translator, Johnson is paying $155,000; a $5,000 deposit has been made to the escrow agent, John C. Trent Esq.
The remainder is due in cash at closing.
THREE ANGELS DEALS TO ADVENTISTS
The island of St. Thomas, in the U.S. Virgin Islands, is home to the city of Charlotte Amalie and a variety of radio stations based in the territory and in the nearby British Virgin Islands. Several big Puerto Rico-based FMs can also be heard, based on terrain.
One of these properties is, appropriately, WGOD-FM 97.9 — a Class B licensed to the St. Thomas city.
It is being sold by Three Angels Corporation (3ABN) to the North Caribbean Conference of Seventh-Day Adventists for $950,000.
A $10 initial deposit has been made, with the remainder due at closing; a promissory note is being finalized.
Duensing & Casner is serving as escrow agent.