Neil Ardman is getting half the stock of Radio Kings Bay Inc., with three partners splitting the rest, in a deal for an FM station situated between a pair of Arbitron markets. Wendy Steele is the seller.
The station is WKBX-FM Kingsland GA. It is located in coastal Georgia, south of the small Brunswick GA market and north of the considerably larger Jacksonville FL market.
Wendy Steele is selling her 100% stake in the company.
The other investors in addition to 50% stakeholder Ardman will be Elizabeth Ardman with a 25% share, and Jordan and Jacqueline Gallup, who will each hold 12.5%.
The price is $550K. $55K will be placed in escrow and will become the cash portion of the deal, with the remaining $495K accounted for via a promissory note.
The Class A station plays Hot Country Hits on 106.3 MHz, with 6 kW @ 328’.