Ark-La-Ms Radio Group LLC has stepped into an LMA held by a third party and is buying a Greenville MS combo from the first party, the seller. Ark-La-Ms will be picking up aspects of the deal initiated in 2009 under the previous LMA.
The stations are WDMS-FM and WGVM-AM. Buyer Ark-La-Ms is headed by John R. Padgett. It has also taken over an LMA originally struck by Tennessee company Delta Radio Group LLC, headed by Allen Schemmel.
The seller is WDMS Inc., headed by Bob Ghetti and Wesley Gerald.
The total compensation package works out to $734,231. The buyer will pay $12.6K to Ghetti, another $148K to Ghetti under terms of an existing non-compete, $40K to Gerald and will assume two loans obtained from Community Bank, one valued at $15,814 and the big one valued at $517,817.
Greenville is situated on the east bank of the Mississippi River across from part of Arkansas and not far from Louisiana. WDMS is a Class C1 on 100.7 MHz with 100 kW @ 443’. WGVN is a Class D day-timer on 1260 kHz with 2.4 kW on a non-directional antenna. It also has a planned but unapplied for right to add 32 Watts at night. The FCC has no record of a CP to do that, but there is an international agreement that makes it possible.