Goodwill is the least of it in Georgia AM deal


When the contract for the sale of a Hiawassee GA AM station was written, the call letters were WNGM. They have already been changed and are reflected in the name of the buyer. The same contract stipulates that virtually none of the value associated with the station in intangible.

The call letters are now WJUL, and the buyer is WJUL Broadcasting LLC, headed by Jeffrey T. Batten. The deal will also send FM translator W248BJ Batten’s way. The buyer has been running WJUL in an LMA since 12/1/11.
The seller is BMG Broadcasting Inc., headed by William G. Brown.

The price will be $75K cash. A breakdown of how that price tag is allocated revealed that fully $74.5K went to the station’s equipment and other tangible assets; a mere $250 was attached to the FCC license, and another $250 was attached to whatever goodwill the station has managed to amass.

The AM is a Class C on 1230 kHz with 1 kW-U, and is located in the northern portion of the state in the Chattahoochee National Forest. Batten has another station in the general area, WCHM-AM Clarksville GA, but the two facilities will not have any contour overlap. WCHM is also a Class C, on 1490 kHz, with 880 Watts day and night.