Pembrook Pines has already agreed to strike a JSA with Taughannock Media LLC, allowing TM to sell time on WPIE-AM in the Ithaca NY Arbitron market. Now the pair has filed with the FCC to make the arrangement permanent.
Robert J. Pfunter’s Pembrook Pines Ithaca will be collecting $150K cash for the station, which serves the Ithaca market from its city of license of Trumansburg NY.
Taughannock is headed by Todd S. and Tina M. Mallinson. They’ll be plunking down $7.5K into an escrow account to seal the deal, memorialized by a contract that calls for a full cash payment at closing.
A JSA for the station began 7/1/10, with Pembrook noting Taughannock’s expertise in the art of selling time on radio stations. That expertise notwithstanding, WPIE will be the only station in their portfolio.
Pembrook may get it back however. Should TM elect to part ways with the station, Pembrook has a right of first refusal to reel it back in.
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