Peter Davidson is opening a Golden Door to a new radio group, taking 12 Davidson Media stations in six markets with him, as COO Felix Perez signs off on the transaction on behalf of Davidson Media. However, according to Davidson, he’s not really leaving the selling entity. He’ll be on hand as a significant shareholder and board member.
However, the stations he is buying as Golden Door Broadcasting, and merging into his existing Blackstrap Broadcasting, will focus on the brokered multiethnic business model, while those remaining with the original company under the direction of Perez will use a traditional, owned and operated business model, focusing on emerging Hispanic markets. The deal weighs in at $10.024M.
The stations included are WLOU-AM, WLLV-AM & WTUV AM-FM in Louisville KY for $3.36M; WNVL-AM & WMDB-AM in Nashville TN for $2.584M; WWBG-AM, WTOB-AM & WSGH-AM in Greensboro-Winston Salem-High Point NC for $1.54M; WVXX-AM in Norfolk-Virginia Beach-Newport News VA for $1.06M; WXCT-AM in Hartford-New Britain-Middletown CT for $810K; and WCVG-AM in Cincinnati OH for $670K.
Davidson and his wife already have two stations under the Blackstrap brand, including WWNZ-AM Boston MA and WSNR-AM across the water from New York City in Jersey City NJ. The 12 incoming stations are essentially be merging into Blackstrap..