Presence Gone, But Stations Now Relevant

0

A quartet of non-commercial “educational” radio stations in Maine have just been sold to a religious broadcasting operation responsible for some very “relevant radio” across the U.S.


It’s the lone new deal up for discussion in the Weekend Edition of TRANSACTIONS TODAY, which also sees a closing in the Midwest featuring Jason James of Patrick Communications as the broker.

MORE RELEVANT THAN EVER

In a $750,000 deal finalized May 17 and filed with the Commission, Maine-based entity The Presence Radio Network is selling the following stations in Maine to Immaculate Heart Radio:

  • WEGP-AM 1390 in Presque Isle
  • WTBP-FM 89.7 in Bath
  • WWTP-FM 89.5 in Augusta
  • WXBP-FM 90.3 in Corinth
  • WXTP-FM 106.7 in North Windham

There is no broker associated with this transaction.

The purchase of the five Maine stations follows IHR’s acquisition earlier this month of WIGW-FM 90.3 in Eustis, Fla., for $150,000, which includes the seller’s obligation of $28,000 in outstanding debt.

SWICK CLOSES ON INDIANA STICK

In late February TRANSACTIONS TODAY reported on the sale of Class A WFGA-FM 106.7 in Hicksville, Ohio for $300,000. The transaction has now closed, given ownership of the station to Swick Broadcasting Company, led by Steve Swick. WFGA serves an area northeast of metropolitan Fort Wayne, Ind., and had been owned by Federated Media subsidiary Talking Stick Communications LLC, led by Alec Dille. Serving as the exclusive broker in this deal is Jason James of Patrick Communications.

Swick Broadcasting is a local Indiana-based company in operation since 1973. The company’s holdings include Class A WBET-FM 99.3, Class A WLKI-FM 100.3, Class A WTHD-FM 105.5, Class A WLZZ-FM 104.5, two FM translators, and Class C WBET-AM in the Angola, Ind., area, due north of Fort Wayne.