We knew that Apex Broadcasting was picking up a quartet of radio stations in the Fort Walton FL market. Now we know how much Apex will shell out for the stations, along with a few other pertinent facts.
Frank Osborn and Michael Mangan are among the execs at seller Qantum Communications Corporation, which will bring in $2.8M in exchange for the stations in a cash deal.
Apex is headed by Dean Pearce, who is joined in ownership by two other Pearces, Voncile and Houston.
One point about the deal is that there is a point-one connection. All four stations are one step removed from a whole-number MHz dial location.
The biggest is WHWY-FM Holt FL, which has a Class C1 signal on 98.1 MHz, Highway 98 plays Country with 100 kW from 482’ HAAT.
WMXZ-FM Valparaiso FL is a C2 on 103.1 MHz with 50 kW @ 482’. Known as Mix 103.1, it’s basically a Hot AC station per BIA’s chart appended to the contract.
WWAV-FM Santa Rosa Beach FL, known as The Wave, is also a Class C2. Tabbed an Adult Hits station, it broadcasts 50 kW @ 374’ over 102.1 MHz.
WFFY-FM Destin FL, a Rhythmic CHR on 92.1 MHz, is the smallest at Class C3. The Party Station is nonetheless equipped to cover the center of the market, with 25 kW @ 200’ on 92.1 MHz.
Ft. Walton Beach is a Florida panhandle market, tucked in between Panama City, to its east, and Pensacola to its west.