We know that a subsidiary of Bahakel Broadcasting Company was going to acquire CW affiliate WBMM-DT in the Montgomery AL DMA. Now we know how much the company is going to pay.
The seller is Sagamorehill Broadcasting of Alabama LLC, headed by Louis Wall. The deal is unique in that the seller has two stations in the market. Bahakel will be buying one and entering into a joint sales agreement and a shared services agreement with the other.
Bakahel, under Beverly Poston, already owns and operates CBS WAKA in the market.
WBMM, licensed to Tuskegee, is going to cost $3.5M cash. The contract authorizes the buyer to send $1.75M of that amount straight to MCG Capital Corporation.
The other Sagamorehill station involved in the trio is ABC WNCF. Bahakel will handle sales and many other back room functions for the station, but Sagamorehill is going to handle the programming and all FCC interactions for the station.