Recent reports show Clear Channel looking at its financing options going forward, based on dollar amounts in the billions. Its deal to divest WLVE-AM Winchester VA will have absolutely no noticeable impact on those deliberations, and its repercussions will definitely not be felt on Wall Street.
The station is being sold to Winchester Radio Broadcasters LLC, headed primarily by Edward A. Schuler and Carol Schuler.
The price: $5K. And the current state of the station is demonstrated by the way the contract stipulates payment. The purchasers will come up with $1K to hire a tower crew to repair the station’s antenna and get it back on the air. The remaining $4K will be paid in cash at closing.
The Schulers do not own any full power facilities at this time, but Edward holds a pair of FM translators in New Jersey, and has applications for noncommercial translators in New Jersey, New York and Pennsylvania, as well as for a standard AM in Enola PA.
Carol has applied for a noncommercial full-power FM station in Bozeman MT.