Mark and Saundra Lange aren’t straying too far from their Indiana roots, but the deal filed with the FCC for an AM-FM combo is just across the state line from some of their Indiana radio holdings.
The Lange’s The Original Company Inc. is adding a second state to their ownership portfolio by picking up WTAY-AM and WTYE-FM in Robinson IL. It’s in unrated territory on the eastern portion of the state.
The seller is Ann Broadcasting Corporation, headed by Jeffrey F. Tye.
The price for the combo is $570K, which includes a $10K upfront payment, $400K cash at closing and a note for the rest. The two companies will also enter into an LMA, with the buyers paying $5K monthly rent, and up to $1.5K in monthly operating expenses.
The combo has tangential overlap with WQTY-FM in Linton IN. It’s one of The Original Company’s nine FMs and three AMs in Indiana.
RBR-TVBR note: Now available RBR-TVBR’s ‘2010’ new guide to help chart a course through the treacherous waters of buying, owning and selling radio or television stations.
Click to purchase: “Profitably Buying and Selling Radio Stations,” or 1-800-288-4677, ext. 5022 for $49.95, paperback, $39.95, e-book.