The station serves the Florence-Muscle Shoals AL Arbitron market, and goes by the name 93.9 The Score, which describes its sports format.
The seller is Mark A. Pyle’s Shoals Broadcasting Corporation.
The buyer is Valley Broadcasting Inc., headed by Gregory H. Thornton.
Valley will pay $800K for the station, bringing $700K in cash on closing day, followed by a series of interest-free $10K annual payments for a period of ten years.
What makes this deal unique is that it essentially was attempted almost ten years ago. The same licensees show up as assignee and assignor on an application dated 8/6/02. The differences were the price – the parties had agreed to $900K back then; and the licensee – back then Thornton had a partner named David M. Walters who is no longer involved in the transaction as described in the new application.
Valley was already running the station prior to the 2002 deal under terms of a time brokerage agreement, and according to the station’s website, it is still running it.