Geos Communications already owns WGMF-AM Tunkhannock PA in the sprawling Wilkes Barre-Scranton PA market. Now it has a unique cash deal to pick up a second station, WNAK-AM in Nanticoke PA.
The seller is Bold Gold Media Group LP, headed by Vince Benedetto.
Geos is headed by three principals: Kevin M. Fitzgerald, Benjamin P. Smith and Betty S. Curtin.
The price of the station will be $128,659, an amount which will be paid in ten installments by the end of the year. In fact, $5K was already put down in March. Seven of the monthly payments will be for $2,572, and they will be supplemented by two big ones: a $52,000 balloon due in July and a $53,655 balloon in December.
An LMA for the station began 4/1/10.
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.
