David J. Miller’s radio stations are based in Newport OR, and to the north, Lincoln City OR. A new deal for an AM station in Waldport OR keeps the Pacific Ocean in play, and adds a community to the south of Newport.
The station is KORC-AM. It’s going to Miller’s Yaquina Bay Communications Inc. The seller is KORC Radio Inc., headed by Linc Reed-Nickerson.
The price is not going to set off any sparks on Wall Street – the contract calls for $37.5K in exchange for the station, with $26,250 allocated to the license and good will, and the remaining $11,250 to the station’s tangible assets.
Miller is to plunk down a $3,750 deposit, pay another $3,750 at closing and fork over a promissory note for $30K.
According to the application, the station will form an old-fashioned AM-FM combo with KYTE-FM Newport OR. Miller has interests in additional Newport stations, including KNPT-AM and KNCU-FM.
Further up the coast, Miller’s interests include KBCH-AM and KCRF-FM in Lincoln City OR.