Not only is a transaction application being filed for the third time in five years for WWII-AM Shiremanstown PA, this time it’s going for a lower price, and it’s also going non-commercial.
Joseph L. Green bought the stock of Hensley Broadcasting and its WWII-AM back in 2007. In 2010, he wound up handing the station over to a lender in return for forgiveness of debt. Now the station has found a new owner and a new valuation.
The station, a Class D daytimer on 720 kHz with 2 kW and a non-directional antenna, serves the Harrisburg-Lebanon-Troy market.
Green paid $750K to get the station from Carl Kuehn II and the Estate of Dean Lebo back in 2007.
According to a contract dated 9/1/10, WP Pennsylvania loaned the Green version of Hensley Broadcasting $771K on 6/1/07, and was accepting the station in return for debt forgiveness.
Now, WP has found a new buyer. Noncommercial Holy Family Radio Inc. is picking up the station for $500K. It’ll have some time to come up with the bulk of the money — $50K will be put on deposit, another $50K will be paid at closing and $400K will be paid via promissory note.