Donald and Elke McCoy own and operate Magic Broadcasting Inc., which consists mainly of a five-station cluster in the Panama City FL market. The group has now filed a contract to acquire a station that will provide entrée into Florida’s capital.
The station is WGWD-FM, a Classic Country outlet licensed to Gretna FL and serving Tallahassee.
The seller is De-Col Inc., headed by Monte Bitner. Brokering on behalf of Bitner was the firm Haddon & Associates.
The price is $1.2M cash. $25K has already been deposited in escrow.
WGWD is a Class C3 on 93.3 MHz with 8.7 kW @ 499’. I