Larry G. Fuss and his Delta Radio Network are getting a set of five stations in the Mississippi River portion of Mississippi State. Delta has been running three of them in an LMA since April 2010, and the other two were owned by Eddie Fritts up until he became Chairman of the NAB.
The stations include WNOX-AM and WLTM-FM Greenville MS and WIQQ-FM Leland MS – that is the trio already being LMAd – and two formerly owned by Fritts are WNLA AM-FM Indianola MS.
According to Fuss, John Speeney, who is market manager for the LMAs stations along with other Delta Mississippi stations, will assume those duties for all of the incoming stations. Fuss says one thing Speeney will likely not be worrying about is making a format change at any of the stations.
The seller is Debut Broadcasting Mississippi Inc., headed by Robert Marquitz.
The price will be $250K. $25K will be put into a down payment, $100K will be paid at closing and a $125K promissory note will complete the compensation package.
A $5K non-compete is included in the deal, with Debut properties in the Vicksburg area excepted.
The contract provides an unusually detailed picture of how the price is allocated. Here goes:
$153,330.56: Tangible personal property
$34,357: Intangible personal property/FCC licenses
Fuss’s radio holdings extend a bit farther west than most – his South Seas Broadcasting has holdings in the US Pacific territory of American Samoa.