West Palm Beach Radio’s acquisition of a number of CBS radio stations in the West Palm Beach market has been diminished by one courtesy of Lincoln Financial Media, which is stepping in to buy WMSF-FM – check that, WAXY-FM.
Yes, the call letters have already changed, as the station takes the Sports programming of WAXY-AM South Miami and runs it on the FM dial.
The price of the purchase was reported by Star Media Group’s Peter Handy as about $13M. Here’s how it breaks down – the price is actually $12M, but the seller will kick in relocation costs for the station up to a cap of $1M.
That will cover WAXY-FM’s attempt to move to Miramar FL and better serve the Miami market. It should be noted that Lincoln will be buying this station whether or not the FCC grants permission to make the move.
Lincoln’s other stations in the market include AC WLYF-FM 101.5 and Oldies WMXJ-FM 102.7.
The original contract for the sale is between Lincoln, headed by Robert D. Benson and Jeffrey S. Dinetz, and Dean Goodman’s West Palm Beach Broadcasting. Paperwork was included to allow CBS to assign the station directly to Lincoln.