Contract filed in rent-to-buy deal


Partnership Ministries Inc. started operating WPRJ-FM in Coleman MI over a year ago, on 3/20/08. During that time it’s been paying toward the agreed on price for the station, and now it’s ready to buy. PMI, which does business as Passion Communications, is getting the station for $100K from Come Together Ministries. It paid a $30K option fee last year, and its monthly LMA fees will also count toward the purchase price. It’ll pay cash for the balance. Coleman is in unrated territory northwest of the Midland portion of the Saginaw-Bay City-Midland market. Buyer and seller are non-profit.