No, not that Jeff Beck – we’re talking about Jeffery Allen Back of The Jeff Beck Broadcasting Group Inc., who is buying an AM and FM in an unrated portion of Alabama to go with his four other stations in the vicinity.
The stations are WFXZ-AM Anniston AL and WTDR-FM Talladega AL. Despite appearances, they are not a true AM-FM combo, having only tangential overlap at the extreme outer edges of their primary contours.
The seller is Jacobs Broadcast Group, headed by Jim Jacobus.
The price will be $745K, most of which is allocated to the goodwill enjoyed by the stations. That intangible commodity is valued at $595K, with $150K attributed to personal property and equipment.
JBBG is making a $10K deposit, and will pay a $10K per month fee for a TBA which was scheduled to kick off 9/1/12. All fees will apply to the purchase price, and however much of that still outstanding as of closing will be paid in cash.
WFXZ has further tangential overlap with JBBG’s WJBY-AM Rainbow City AL. Other stations in the Beck portfolio include WGAD-AM Gadsden AL and WWGC-AM Albertville AL.