Beacon Broadcasting is selling two AMs and one FM to noncommercial Educational Media Foundation, a trio of stations in unrated portions of Pennsylvania in the general vicinity of Youngstown OH.
The stations are WGRP-AM and WEXC-FM in Greenville PA and WLOA-AM in Farrell PA. Farrell is to the northeast of Youngstown and Greenville is even farther to the northeast.
Beacon, headed by Dennis F. Glunt will get $225K for the stations, with $100K of that coming in the form of a promissory note.
The deal will take three stations in the commercial band into the non-profit world. WEXC in on 107.1 MHz, WGRP is on 940 kHz and WLOA is on 1470 kHz.
The parties have also entered into a network affiliation agreement, a form of LMA favored by EMF. The agreement allows the buyer to start programming its K-LOVE network on the stations while the proposed transactions wends its way through the regulatory gearworks leading up to FCC approval. This particular agreement was set to kick off 9/10/10.
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