After all the dust cleared, there were two radio clusters in the Nassau-Suffolk market comprised of four FM stations – what makes it interesting is that before the dust cleared, one had six and the other two. According to broker of record Kalil & Co., the deal went down for $3M.
The buyer is JVC Media LLC, headed by Peter G. Schiff, Victor Canales, John Caracciolo, Paul Homer and Henry T. Wilson. In exchange for their $3M, they are getting WRCN-FM Riverhead NY and WKJI-FM Center Moriches NY.
The stations will double the cluster already formed by WBON-FM Westhampton NY and WPTY-FM Calverton-Roanoke NY.
The seller is listed on the contract as IW LLC, but it’s principals have more famously operated as Barnstable Corporation. Albert J. Kaneb, Michael R. Paglia and David P. Widner are the principals. Kalil was on Barnstable’s side of the table.
Barnstable retains properties on the central part of the island, including WBZO-FM, WHLI-AM, WKJY-FM & WMJC-FM.
Richard L. Sharpe worked on behalf of the buyers.