Panama City quartet sold


According to word from brokerage house Kalil and Co., one group owner will be scaling down to one market, and another will be adding a second state in a deal involving four FMs in one of Florida’s prime Panhandle resort areas.

The buyer is The Powell Group, which until now has focused its radio operations in the great state of Iowa.

The seller is Double O Radio Corporation. After closing of this deal, it will cease to be an official radio group, with its holding limited to an FM pair in the Columbia SC market.

The stations being sold include:
* WPFM-FM Panama City FL
* WASJ-FM Panama City Beach FL
* WAKT-FM Callaway FL
* WRBA-FM Springfield FL

Terms of the deal were not revealed.