Simpson sells NW Pennsylvania combo


SoldLaurel Media already has an FM serving St. Marys PA – now it has a deal that will add an old-fashioned AM-FM combo into the mix. The seller is Pennsylvania radio veteran Cary Simpson.

The stations being sold are WKBI AM and FM. They’ve been doing business as Elk-Cameron Broadcasting Company, serving an area east of Erie and not far from the state line with New York.

The price will be $766,047, which includes an escrow deposit of $39K, an additional $486,547 cash payment at closing, and a rather unusual promissory note for $240K. It’s unusual because it will be paid not on a monthly basis, but via annual payments of $30K over eight years. They’re due by January 7th.

An LMA was scheduled to being 11/1/12.

WKBI-AM is a Class C on 1400 with 1 kW-U, ND.

WKBI-FM is a Class B1 on 93.9 MHz with 2.35 kW @ 801’.

They join WDDH-FM, a Class B on 97.5 MHz with 19.5 kW @ 801’.

RBR-TVBR observation: Simpson made this article possible in more than one way. Many years ago, he gave a young veteran fresh out of the military his first radio job as a DJ in the backwoods of Pennsylvania, and bestowed upon the young veteran the handle Jim Carnegie. The rest is history.