Radio station seller will be client of sold Cookeville quartet


When Stonecom Cookeville LLC closes on its acquisition of an AM and three FMs in the Cookeville TN area, it will have one ready-made client on its schedule. However, this client will not be paying cash for the spots it runs – it has incorporated the spots into the compensation package it has put together in selling the stations to Stonecom.

The stations are WATX-AM Algood TN, WBXE-FM Baxter TN, WKXD-FM Monterey TN and WLQK-FM Livingston TN. All are part of the Cookeville TN market, one that was once but no longer is on the roster of Arbitron-rated markets.

The seller is Joe Wilmoth’s JWC Broadcasting.

The total value of the deal is $2.42M – Stonecom, headed by Larry D. Stone, will plunk $125K into escrow, pay an additional $1.975M in cash at closing, strike a note for $200K, and over the course of five years will provide $120K worth of airtime for Wilmoth to use for his Burger King restaurants, his hotel and his other business interests.

Here is a look at what Stonecom has to work with:
* WATX-AM Class D on 1600 kHz with 2.5 kW-D, 20 W-N, ND
* WBXE-FM Class C3 on 93.7 MHz with 6.1 kW @ 659’
* WKXD-FM Class C2 on 106.9 MHz with 23 kW @ 735’
* WLQK-FMClass C2 on 95.9 MHz with 20 kW @ 784’