With 6kw of power, WMOM-FM 102.7 is licensed to serve a small Michigan city on the banks of Lake Michigan situated between Manistee and Muskegon.
It’s been dark since April 1, 2019 and was within days of having its license expired by the FCC for failure to broadcast. On Wednesday, the FM was brought back to life: Santa, in a way, is ushering in new ownership, and a station resurrection.
For $44,000, WMOM is being sold to Hit Radio Media LLC of Michigan by Bay View Broadcasting.
The sale of the Pentwater, Mich., based facility sees the buyer make a $5,000 earnest money downpayment, plus an additional $5,000 deposit to be placed in escrow.
At closing, a $28,000 payment is to be made, in cash.
Lastly, the remaining $6,000 is to be paid within 365 days of closing.
Further, there is a unique noncompete and royalty agreement that sees annual payments of $200 going to Bay View President Patrick Lopeman on the anniversary of the deal’s closing date, until Lopeman’s death.
Closing is expected by May 28, pending FCC approval of the deal.
Bay View’s legal counsel in this transaction is Washington, D.C.-based attorney Dennis J. Kelly.
Hit Radio Media is a three-way partnership, evenly distributed between Managing Member Jim Chesley, and members Steve Leach and Jeff Lobdell.
Chesley holds 42.6% attributable interest in WGLM-AM in Greenville, Mich., and WGLM-FM in Lakeview, Mich.; and holds 23.5% interest in WION-AM in Ionia, Mich., plus all associated FM translators.
As of Wednesday, WMOM returned to the airwaves after a 51-week absence with Christmas music — a growing trend as some radio stations seek to cheer up listeners quarantined due to the COVID-19 pandemic.
WMOM ceased operations as a Pop/Alternative station in early April 2019 after Lopeman, its owner and manager, was seriously injured in an automobile crash the previous month. Lopeman had run WMOM for 20 years, and the station served as the audio hub for Ludington High School sports.
The school’s Oriole Sports Network explained on Facebook in April 2019 that Lopeman, now 70 years of age, had to reevaluate his activities in managing the station following his car accident.
“He realized he was long past retirement age and couldn’t keep up with the schedule required to operate the radio station,” school representatives said.
