Central Virginia’s Classic Rock station, a Class C3 FM with a signal covering the Lynchburg half of the Roanoke market, has been owned by regional licensee Todd P. Robinson‘s WVJT LLC since August 2012.
Now, Robinson is selling the station to a nationally known operator that’s also locally based.
After nearly nine years of ownership, WVJT LLC is spinning WZZU-FM 97.9, branded as “The Planet.”
Robinson purchased the station as part of a two-FM deal with Allen Shaw’s Centennial Broadcasting, with $300,000 allocated to WZZU. The transaction gave WVJT LLC a four-station group serving Lynchburg.
Now, what Robinson calls the Lynchburg Radio Group will be reduced to two brands: Top 40 “93.7 KHF,” and “Oldies 103.9-106.9.”
The buyer? Mel Wheeler, Inc., which is paying $330,000 for the FM.
A $20,000 escrow deposit is being made by the company based in Roanoke, and is being held by Brooks Pierce, Wheeler’s legal counsel of record. And, the final purchase price will be adjusted, as needed, by trade and barter agreements associated with WZZU and WVJT Inc.
The deal also sees the transfer of a tower and transmitter site lease, giving Mel Wheeler, Inc., control of a deal signed in 2004 with High Peak Communications LLC.
The Law Office of Dennis J. Kelly represented Robinson in this transaction.
Mel Wheeler, Inc., continues to be a family-run organization led by President Leonard Wheeler. It operates seven radio brands in the Roanoke area: