Liberty U. puts wiggle room in FM CP price


Jerry Falwell Jr. and his Liberty University are selling a construction permit for a Class A in the coastal North Carolina area – and just to make sure the deal goes though, it has an adjustable price tag in case the FCC has unjust enrichment concerns.

The CP does not yet have call letters, and is earmarked for Calypso NC, located south of Goldsboro, which itself is on the western extremity of the sprawling Greenville-New Bern-Jacksonville market. It’ll be on 91.1 MHz with 4.75 kW @ 141’.

It’s being sold to Pathway Christian Academy, headed by T.D. Worthington.

The price is listed as $5K and is being placed in full in an escrow account. But the price doesn’t have to be $5K. The contract stipulates it will be $5K “…or such lesser amount as may be approved by the FCC for payment to seller pursuant to Section 73.7005(a) of the FCC’s rules.”

Principals of the buyer have interests in Pathway and another non-profit called Roanoke Valley Communications Inc. – between the two, they already hold licenses for seven FMs in the same general portion of the state.