WOCA-AM is moving to a new ownership company. The station, serving the Gainesville-Ocala FL Arbitron market from the Ocala side, is being sold to Generations Broadcasting Corporation.
The price of the deal is $265K, which is comprised of a $30K escrow deposit payable in cash at closing and submission of a $235K promissory note.
The buyer is headed by Joseph and Dan Martone. The seller, Westshore Broadcasting Inc., is headed by Mike Smith.
The facility is a Class D operating on 1370 kHz with 5 kw-D and 33 w-N off a non-directional stick.
An LMA began 7/1/10. It has an interesting provision in the monthly rental addendum. The payment due date is to be enforced with a $100 late fee, but it’ll be difficult to activate the late fee, seeing as the stipulated monthly rental fee is $0.00.
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.