Good Guys, headed by Frank Abbadessa and Thomas Coyne, are buying WUTQ-AM Utica and WRCK-AM Remsen, plus they also will get W238CA Utica. The price will be $350K. They’ll put $17.5K into escrow, pay an additional $282,500 at closing and strike a note for $50K. A TBA will begin 8/1/12, under terms of which Good Guys will pay $1,750 per month plus expenses.
WUTQ is a Class D on 1550 kHz with 1 kW-D, 3-W-N, ND, serving the municipality Utica by day and a portion of it at night. WRCK is a Class D on 1480 kHz with 5 kW-D, ND, serving the area north of Utica and east of Rome, without putting a primary signal into either.
They do not get to keep the call letters. WUTQ will be changing to WUSP and WRCK will be changing to WADR.
If Good Guys decide to sell 50% or more of the stations, Roser will have right of first refusal to match any bona fide offer and repurchase them.
Roser has several stations in the area: WBGK-FM Newport Village, WSKS-FM Whitesboro, WSKU-FM Little Falls, WUTQ-FM Utica and WBIG-FM Fort Plain.
The buyers have stated that the two AMs will be used for a sports-talk format. For five years, they may happily pursue that avenue, but they are not allowed to flip formats to CHR, AC (including light, soft or hot AC), Country (including contemporary or tradition), nor may they flip to news-talk.
Roser likewise agrees not to flip any of its stations to sports, although it retains the rights to on-air involvement in charitable sporting events, specifically mentioning the Utica Boilermaker Race.