The deal sending WWMK-AM to St. Peter the Rock Media is on the road to regulatory approval. The FCC has accepted the application and contract for filing. Brokers: William B. Schutz (seller) and Patrick Communications
The contract shed a small amount of extra light on the deal.
The backers on the non-profit buyer do include Gerald A. Monroe and Patrick J. D’Andrea. They are two of seven directors, each holding 14.8% of the company’s voting stake. Monroe also serves as President, and D’Andrea is Treasurer.
The station is being sold by Radio Disney for $895,000 cash. That makes it the least expensive of the five sold thus far. It is also far less than Disney paid for it more than 15 years ago. According to the RBR Source Guide and Directory, Disney acquired the station back in 1998 for $3,900,000.
The closing of the sale of WDFD-AM Detroit to Church of the Word for $3M was just announced. Schutz and Patrick were also brokers of record on that deal.
WWMK-AM is a Class B on 1260 kHz with 10 kW-U, DA2. Its primary contour is squeezed to the east and west, but pulls in Akron to the south.
