Follet meets Follett at the trading table


A five pack of AM stations is going from Starboard Media Foundation to Sovereign City Radio Services, which not so coincidentally is a subsidiary of Starboard Media Foundation, with Mark C. Follett having a large role at each entity. The transaction involves potential value of $8.57M or so, in the form of transferred and/or forgiven promissory notes, expenses and minor litigation costs. Three of the stations are in the Fort Myers-Naples-Marco Island FL Arbitron market. However, WMYR-AM Fort Myers does not overlap WCNZ-AM & WVOI-AM, both licensed further south on Marco Island. Also involved in the transfer is WZUM-AM, serving Pittsburgh PA from Carnegie PA, and WZRK-AM, licensed to Lake Geneva WI, southwest of Milwaukee.