Family Life Ministries Inc., which operates stations in both New York and Pennsylvania, is creating a border duopoly with one foot in each state via a deal to acquire WNAE-FM in Clarendon PA.
The station has made it past its 5th birthday, after being awarded to and built by Iorio Broadcasting Inc., headed by Frank Iorio Jr. in FM Auction No. 37.
FLMI, headed by Norb Fuest and Rick Snavely, will pay $400K for the station. It has three options for meeting that obligation. They all start with a $20K deposit. After that, FLMI may either pay the full amount at closing, or pay $180K with a one-year 6% note for the rest, or pay $180K at closing with a two-year, 7% note for the remainder.
The station, located in the northwest portion of Pennsylvania, is a Class A on 102.7 MHz with 5.5 kW @ 341’, and it will form a duopoly with the non-profit’s WCOT-FM Jamestown NY.
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