A minor flurry of closings has been announced in recent days. Deals coming to consummation have taken place involving stations in Tennessee, Texas, Illinois and Ohio. Three of the deals were for $1M or more.
In the Chattanooga market, Bible Broadcasting Group closed on its acquisition of Tennessee Temple University’s WDYN-FM. Eddie Esserman of Media Services Group was the broker of record.
$1.1M has been exchanged for a group of stations strung out along the Rt. 281 corridor in the central part of the state. Anchoring the set on the southern end are KRHC-AM and KBEY-FM, located northwest of Austin and SW of Temple TX. In the middle is KHLE-FM Kempner TX, west of Temple, and also somewhat to the east of Rt. 281. To the north is KHHG-FM Hamilton TX, west of Waco TX. The buyer is M&M Broadcaster Ltd., and the seller is Munbilla Broadcasting Properties. Bill Whitley of Media Services Group provided brokerage services.
A quartet of FMs in the environs of Peoria IL have been sold. WHRI-FM Glasford, WPIA-FM Eureka, WWCT-FM Bartonville and WZPN-FM Farmington, all in Illinois, are now the property of Big Toe Communications LLC. It paid $1M cash to IM IL Licenses, a subsidiary of Independence Media of Illinois. Media Services Group’s Stephan Sloan was the broker.
In the Cincinnati area, WHSS-FM Hamilton OH has been auctioned off by Hamilton City School District, in a transaction shepherded forward by broker Jay Meyers of Broadcast Management and Technology. Sacred Heart Radio paid $156K for the station, which pairs up with WNOP-AM.
RBR-TVBR note: If you read this article, chances are you have more than a casual interest in the buying and selling of media properties. Much of what goes into a deal goes into the contract, and knowing what kinds of things should go into the contract can help you make a better deal. RBR-TVBR has just the book for you: a guide to deal-craft that will pay for itself.
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