WXJO-AM will be going to a noncommercial Hispanic religious licensee, and the seller will be getting a much higher price for the station than it paid back in 2007. However, a good deal of effort and who knows how much expense went into improving the station’s value.
When the station was acquired by Randy Gravley’s Exponent Broadcasting Inc. from Roberts Communications for $80K, it was located in an unrated portion of central Georgia, licensed to the community of Douglas. That deal, based on a 2/27/07 contract, included a CP to move the station to Smyrna GA.
The Smyrna site fell through, but Exponent was able to build a replacement 1 kW daytimer on 1120 kHz in Douglasville. That community is just to the west of Atlanta, and the signal at the very least puts fringe coverage over the urbanized area.
It is being sold to noncommercial Monte Sinai Inc., headed by Maritza Aflaro Herrera. MSI will pay $500K for the station, broken down into a $20K deposit, a second $80K escrow deposit, both to be released to the seller at closing, plus a $400K promissory note.
It is the only media property for the buyer, and it is hoping to be upgradable. It has applications in to increase the daytime power to 10 kW via the introduction of a directional array, with 9 kW of power during critical hours.
