College to bank Red Bank proceeds


The Chattanooga State Technical College is going to pull in $1.5M in exchange for its broadcast outlet, WAWL-FM in Red Bank TN. The buyer of the noncommercial FM is Family Life Broadcasting Inc., headed by Randy L. Carlson. Greg Guy of Patrick Communications provided brokerage services for the college. The transaction will involve mainly cash, although certain assets are required to be auctioned off in accordance with the laws of Tennessee. These include the antenna and transmitter. FLBI has bid on the items and the price paid will be credited toward the total purchase price.