Educational Media Foundation cut a deal with the restructuring On Top Communications for WRXZ-FM in Albany GA earlier this year. It was essentially a 500K acquisition, but the station came with a little excess baggage, WFFM-FM Ashburn GA, valued at 115K. Now EMF has found a buyer for the small-market FM, and will pull in a little spare change for its trouble.
Three Trees Communications Inc. will buy it for 150K. It'll be a partner with Three Trees' WTIF-FM Omega GA and WTIF-AM Tifton GA. WFFM-FM should really be see as more of a territorial expansion move rather than a consolidation move, since it's located to the north with minimal overlap. It is not EMF's first dealing with Three Trees. It bought WJYF-FM Valdosta GA (licensed to Nashville GA) for 1.3M from Three Trees, also earlier this year. To get WFFM, Three Trees will pay 50K cash, and will settle the rest by knocking off 100K from the 700K promissory note EMF gave it for the Valdosta station.
