The individual who has 100% control of a Michigan station being operated under a LMA by 45 North Media has agreed to purchase an AM/FM combo — along with an FM translator — serving another city in the state that looks like a mitten.
For a purchase price of $400,000, Todd Mohr and his wife, Janine Gregorski-Mohr, have teamed to acquire the three signals through their newly formed Aurora Media.
Todd Mohr holds 82% interest in Aurora, with Janine holding 18% of the ownership.
Aurora is buying Class B WDBC-AM 680 and Class C1 WYKX-FM 104.7 in Escanaba, Mich., in addition to FM translator W233CT at 94.5 MHz.
The seller is KMB Broadcasting, led by Jim and Betsy Cooke.
A $60,000 deposit has been made to KMB by Aurora, which began operating the stations via a Time Brokerage Agreement effective Jan. 1.
A cash payment of $240,000 will be made, while the remaining funds owed to KMB will be held in a Promissory Note valued at $100,000.
Jason James of Patrick Communications served as the exclusive broker in this transaction.
Legal counsel in this transaction are Mark Denbo of Smithwick and Belendiuk, representing Aurora Media, and Edinger Associates, representing the seller.
Mohr in April 2018 agreed to sell WWMN-FM 106.3 from his Mitten Media LLC, to Mitten News for $275,000.
Mohr is also a 4% shareholder in Synergy Media, which is majority-owned by Richard Young.