For Washington, D.C., area residents, a trip to the beach may involve a drive east on U.S. 50 and an excursion to the beaches of Delaware. Among the towns popular with those in the National Capital Region is Rehoboth Beach.
It is here that a 41-year old FM that is presently “The Talk of Delmarva” is being spun. And, the seller is a “resort” … sort of.
With embattled Westwood One-syndicated host Dan Bongino in the noon-3pm shift, WGMD-FM 92.7, a Class A, is being transferred from Resort Broadcasting Company to Datatech Digital LLC.
The buyer is headed by Mark Giuliani, and he’s keeping WGMD in the family with the station’s purchase, as the seller is headed by Joseph Giuliani.
Mark is buying WGMD from Joe at an agreed-to price of $517,201.
Payment terms see Joseph Giuliani, and partner and family member Benjamin W. Giuliani, recoup with interest funds given to Resort as business loans. The principal amount of the loans is approximately $400,000.
Serving as the legal counsel in this transaction is Aaron Shainis of Shainis & Peltzman, in Washington.
