As RBR+TVBR first reported Dec. 17, Mary Quass‘ NRG Media LLC is selling three radio stations in Wisconsin to Dave Magnum‘s Magnum Communications.
We now know how much his company is paying for the stations, thanks to the filing of an asset purchase agreement with the FCC dated November 4.
Magnum, formed in 1991, is acquiring Class B WFAW-AM and Class B WSJY-FM in Fort Atkinson, Wisc.; and Class A WKCH-FM in Whitewater, Wisc., for $2.7 million.
A $135,000 earnest money deposit has been made and is being held by broker of record Kalil & Co., representing NRG.
At closing, the remaining funds are to be paid by wire transfer to NRG.
NRG employs its own in-house counsel, Cynthia Lohman, who worked with John Trent of Putbrese, Hunsacker & Trent, legal counsel for Magnum, in finalizing the APA.
NRG, minus these three stations, is comprised of 38 radio stations in the Midwest, located in Cedar Rapids and Waterloo, Iowa; Dixon, Ottawa, and Salem, Ill.; Northwoods and Wausau, Wisc.; and Grand Island, Lincoln and Omaha, Neb., representing NRG’s largest markets.