Bert Lindsay will be the proud owner of WSVM-AM Valdese NC when acquisition of the station from GBH Broadcasting Corporation makes it to the finish line.
This is not one of those deals that is going to create ripples on Wall Street. Not only is the price a very modest $12K, Lindsay will be putting the entire amount into escrow for release to the seller at closing.
A TBA was scheduled to begin 7/17/12, and the rent from that arrangement will increase the amount of cash headed to George H. Buck’s GHB. Linday will pay a fixed rate of $2.7K monthly to operate the station until the deal closes.
$8.5K of the purchase price is allocated to the station’s authorizations; $500 is for the call letters and other assets; and $3K is going earmarked to compensate GHB for expenses associated with the effort to sell the station.
WSVM is a Class C on 1490 kHz with 1 kW-U, ND. It is in an unrated portion of western North Carolina roughly between Charlotte to the east and Asheville to the west.