Two AMs in the two coastal markets of Georgia, and one more a little ways inland, are going to a new owner in a deal with absolutely no local consolidation implications.
The buyer is getting WSEG-AM Savannah GA, WSFN-AM Brunswick GA and WFNS-AM Blackshear GA. The latter is the inland station, in unrated territory near Waycross GA.
The buyer is Southern Media Interactive LLC, headed by William J. Dorminy.
The seller is MarMac Communications LLC, headed by Gary Marmitt and Sharon McKeand.
The price will be $1.3M cash. A TBA will go into effect prior to closing, which calls for a $16K monthly payment which will count toward the purchase price. In addition, SMI will be responsible for reasonable operating expenses.
WSEG is a Class C standards station on 1400 kHz with 650 W-U, ND.
WWFN is a sports-formatted Class D on 790 kHz with 500 W-D, 115 W-N, DA2.
WFNS is also a sports Class D, on 1350 kHz with 2.5 kW-D, 117 W-N, ND.
