Soft landing for Land after selling IL radio stations


$1,454,766.67 WFIW AM-FM & WOKZ-FM Fairfield IL from Wayne County Broadcasting Company Inc. (David H. Land) to The Original Company Inc. (Mark R. Lange, Saundra K. Lange). $5K down payment, $445K cash at closing, $512,766.67 note, $246K consulting agreement with Land and $246K non-compete with Land. Land also has agreed to and employment contract under which he will serve as GM of the stations. The non-compete does not begin until his employment ends. LMA 2/1/12. Existing duopoly.
[FCC file date 5/14/12]