The station is WAXI-FM Rockville. The buyer is DLC Media Inc., headed by David L. Crooks.
The seller is Crossroads Investments LLC, headed by Dan Lacy.
The price will be $300K cash. The parties spelled out its allocation, attributing $115K to the transmitter and exciter, $80K to the station’s buildings, $42K to other equipment items, $35K to licenses and goodwill, and $18K to land.
The station is a Class A on 104.9 MHz with 1.2 kW @ 440’. Its signal is north of Terre Haute, and its primary contour doesn’t quite make it past the city limits. It plays an Oldies format and is taking over the seller’s affiliation with the Scott Shannon True Oldies program.
DLC’s other stations are WAMW AM & FM Washington IN. It’s LMA is with Vincennes University, for WFML-FM Vincennes IN.
The contract indicates that there are fixer-upper elements to WAXI – a late clause in the contract stipulated that the seller would do his best to get a few items taken care of using trades to the greatest extent possible.
Here’s the clause:
“Repairs/Trade Outs. The Seller will use its best efforts prior to Closing to trade for gravel for the driveway, new carpet and linoleum for the bathroom, paint interior of building and a new roof for the Real Property. In addition, the Seller will either trade or pay for mowing and general clean-up of the Real Property. The Seller will also replace all lights on the tower. Any trade may continue after the Closing and the Buyer shall not be credited against the Purchase Price for the value of any trade.”