We knew about a series of transactions in the Dothan AL market involve seven stations, four contracts, two sellers and three buyers. There are only four companies in on the dealing, however, since one seller is also a buyer. Now we have details on pricing.
Magic Broadcasting is the seller of record on three of the contracts, divesting five FM stations total. The biggest deal will send WTVY-FM Dothan and WKMX-FM Enterprise to Gulf South Communications Inc., headed by Clay Holladay and Ron Eubanks. The duo is going for $1.03M.
Magic’s sale of WLDA-FM Slocumb and WJRL-FM Fort Rucker carries a pricetag of $610K. The buyer is Southeast Alabama Broadcasters LLC, headed by Georgia Edmiston.
The third buyer on a Magic contract is Alisha K. Cummings’ Alabama Media Investments LLC. AMI is getting WBBK-FM Blakely GA for $210K.
Two names we’ve seen before are on the fourth contract: GSC, which already owns WUSD-FM Hartford and WDJR-FM Enterprise in the Dothan market, is clearing two stations to stay within the local ownership cap, and the beneficiary is SAB. SAB will pay $500K for GSC’s WESP-FM Dothan and WDBT-FM Headland.
So in the end, Magic will bring in $1.85M for five FM stations. GSC will pay $1.03M for two and gain $500K for two, spending a net $503K. SAB will spend $1.1M for four stations. And AMI will have an FM standalone after its $210K deal closes.
GSC will have a Class C, two Class C0s and on Class C1, all with 100 kW of power beaming from a variety of antenna heights. SAB will have four Class C3s with power ranging from 11.5 kW to 25 kW. And AMI will have a single Class C2 with 45 kW.