On April 30, Carl Lamm officially said goodbye to the radio industry.
That’s when an asset purchase agreement was struck that saw his Lamm Media Group sell a Class D daytimer and its FM translator — a move that came one month after Lamm handed day-to-day operations over to the buyer via an LMA.
On Tuesday (7/16), the transaction officially closed.
Lamm is now retired, and has formally concluded an incredible 72 years in radio broadcasting.
Now operated by Truth Broadcasting Corp., headed by COO Michael Carbone, is WTSB-AM 1090 and FM translator W288DH at 105.5 MHz in Selma, N.C., to the southeast of Raleigh.
The translator covers such towns as Smithfield and Clayton, N.C.
Truth paid $175,000 for the facilities, and the arrangement calls for $10,000 paid within six months of the Asset Purchase Agreement’s signing to Lamm, in cash.
The remainder will be honored via a Promissory Note.
Serving as Lamm’s broker in this transaction is Dick Kozacko of Kozacko Media Services.
Truth’s other local radio station is WDRU-AM, licensed to Creedmor, N.C. and is a part of The Truth Network.
It is a Christian organization closely aligned with Salem Media Group, but not a subsidiary of the public traded company.