In Tampa Bay, his radio company is largely known for its Class B AM that happens to serve as the largest affiliate of the Bubba The Love Sponge radio program. In Orlando, the company has made its presence known via AMs offering Sports and Talk programming.
Now, the Orlando stations are being sold in a deal brokered by Kalil & Co., and RBR+TVBR knows how much Bruce Maduri is pocketing for his Genesis Communications.
The AMs that Maduri is shedding from Genesis are Class B “NewsTalkFlorida” affiliate WAMT-AM 1190, licensed the Orlando suburbs of Pine Castle and Sky Lake, and Class D “SportsTalkFlorida” affiliate WHOO-AM 1080 in Kissimmee.
Both signals cover the Orlando market. WHOO’s signal is complex: It is a three-pattern dimensional facility with 19kw daytime power from five towers, and 190 watts at night from four towers. But, during “critical hours” it pumps out 10kw from three towers.
That’s, at least, for now: A Construction Permit has WHOO shifting to a directional two-pattern signal from 2 towers with 6kw during daylight hours and 55 watts after dark. The transmitter location is in Oak Ridge, just northwest of Orlando International Airport. It’s a move from a facility just south of the airport.
The buyer of WAMT and WHOO won’t likely be retaining their respective formats. That’s because the forthcoming owner of the AMs is Immaculate Heart Media, operator of the noncomm Relevant Radio, branded as “Talk Radio for Catholic Life.”
IHM (not to be confused with iHeartMedia) is paying $1,515,000 for WAMT and WHOO, and a $75,750 deposit has been made to Kalil & Co. as an escrow deposit. The remaining funds will be paid at closing.
However, Maduri stands to earn a little more from the sale of WHOO: In addition to the purchase price, Immaculate Heart will pay Genesis $65,000 “if, as of the Closing Date, the FCC has accepted for filing an application for a license to cover the facilities substantially as set forth at FCC File No. BMP-201704014ABA.” That’s the diplex implementation plan for WHOO.
But wait — there’s another payment Genesis may receive. Ten days after the FCC issues a Translator Construction Permit to Genesis, Immaculate Heart will acquire the future FM translators in the Orlando market for $10,000.
This puts the total value of the transaction at $1.59 million.
Kalil & Co. represented Maduri and Genesis in this transaction. Legal counsel is Chris Imlay of Booth, Freret & Imlay of Silver Spring, Md.
Legal counsel for Immaculate Heart is Mark Denbo of Smithwick & Belendiuk.
The deal pushes Immaculate Heart’s total ownership of radio stations to 44; it is also the proposed assignee of six other stations, five of which are in Maine. The other is WIGW-FM in Eustis, Fla., just northwest of Orlando.
For Genesis, the business continues with WHBO-AM 1040 and WWBA-AM 820 in Tampa-St. Petersburg and WIXC-AM 1060 in Melbourne-Titusville-Cocoa, Fla.