J&V Communications Inc. is getting its third Orlando and fifth Florida AM station from Way Broadcasting, a company related to Arthur Liu’s Multicultural Radio Broadcasting LLC. The station is WUNA-AM Ocoee FL.
J&V is headed by Jesus and Virgen Torrado. According to broker Doyle Hadden, who handled the deal, Jesus is a veteran of WOR-AM New York and decided to go into ownership upon moving to Florida to “retire.”
The price is $750K cash.
Ironically, although Liu’s stations are generally in the brokered ethnic business, in this case, that is the format J&V is already using on its other Orlando stations – WSDO-AM Sanford and WPRD-AM Winter Park, not to mention on WTJV-AM De Land, in the neighboring Daytona Beach market. (J&V’s other station is WOTS-AM Kissimmee.)
WUNA-AM is not in that format – it operates a Regional Mexican format for a living.
RBR-TVBR observation: Hadden says that station trading is starting to pick up – his words were “getting hot in 2010.” A lot of people will like to hear that.
He also offered a word to the wise. There was a letter of intent to sell this station for about a year. The seller decided to hold out for a little more cash, and of course, that is not the direction prices are going right now. So if you are lucky enough to have a buyer, it is probably time to pull the trigger without any undue delay.
RBR-TVBR note: Now available RBR-TVBR’s ‘2010’ new guide to help chart a course through the treacherous waters of buying, owning and selling radio or television stations.
Click to purchase: “Profitably Buying and Selling Radio Stations,” or 1-800-288-4677, ext. 5022 for $49.95, paperback, $39.95, e-book.