When NextMedia changed its ownership lineup recently as it pursued its restructuring project, three stations in two oversized clusters lost grandfathered status and are destined for a trust. But a buyer has been found for one of them — an FM in the Greenville-New Bern-Washington NC market.
The station is WSSM-FM Havelock NC, and the buyer – racking up some more frequent acquirer miles – is Educational Media Foundation under Mike Novak. The noncommercial religious radio group will pay $230K for the station, and as per usual, will take it non-commercial.
A glance at EMF’s application shows at least one Coastal Carolina station in the portfolio, WKGV-FM Swansboro, a town in the southeastern portion of the geographically expansive market. Havelock is to the north and even more to the east, despite the fact that Swansboro is right on the water and Havelock is inland. That’s thanks to the shape of the coastline in that part of the state.
The other two NextMedia orphans are in the Chicago area: WZSR-FM Woodstock IL and WWYW-FM Dundee IL. They will be under the TLC of The Mile High Station Trust under Elliot Evers of Media Venture Partners and
NextMedia’s remaining stations in the market include WQXL-FM Belhaven NC, WANG-AM Havelock NC, WQSL-FM/WXQR-FM Jacksonville NC, WRNS AM-FM Kinston NC and WERO-FM Washington NC.
RBR-TVBR note: Now available RBR-TVBR’s ‘2010’ new guide to help chart a course through the treacherous waters of buying, owning and selling radio or television stations.
Click to purchase: “Profitably Buying and Selling Radio Stations,” or 1-800-288-4677, ext. 5022 for $49.95, paperback, $39.95, e-book.