Licensed to the municipality of Egypt Lake, Fla., is a Class B AM with 2,800 watts from 2 towers when the sun is up and 800 watts from 3 towers after dark. It serves the entire Tampa-St. Petersburg region, minus Polk County.
Giving it a boost in central Hillsborough County is an FM translator at 101.9 MHz.
Both have been sold by Neal Ardman‘s NIA Broadcasting.
As such, WMGG-AM 1470 and W270DU aren’t so hot anymore.
Why? The “Caliente” simulcast of WTMP-FM 96.1 in Dade City, in the far north of the Tampa Bay region, has ceased ahead of the outright sale of the facilities to DRC Broadcasting.
DRC stands for Daniel de la Rosa, and he’s installed a Tropical format on WMGG and W270DU, using the latter’s dial position to brand the station “Ritmo 101.9.”
The transaction is valued at $600,000, but it is a TBA-to-purchase plan that will see De la Rosa make a nonrefundable $250,000 upfront payment. These payments will offset the total purchase price. A $350,000 Promissory Note will honor the remainder due. It is interest-free, payable over five years starting December 1 at a rate of $5,833.33 per month.
Additionally, De La Rosa has agreed to a tower lease with $1,000 monthly rental payments starting in December and lasting five years.
WMGG and W270DU will become cousins of WQXM-AM 1460 and W260DA, serving eastern portions of the Tampa DMA — Bartow and Lakeland. As such, “Ritmo” as a brand will soon have full market coverage, making sales opportunities stronger for De la Rosa.
