With Entercom’s WLYF-FM 101.5 “Lite FM” in balmy Miami the latest station to adopt an all-Christmas format, even though it’s not Thanksgiving yet, thinking of Jesus is certainly top of mind.
As such, this freshly filed deal in the Land of Lincoln may be perfectly timed to usher in a new owner.
Trading hands are the following stations:
- WLUJ in Springfield, Ill.
- WLWJ in Petersburg, Ill.
- WRLJ in White Hall, Ill.
- WJWR in Bloomington, Ill.
- WLLM-AM in Lincoln, Ill.
- WLLM-FM in Carlinville, Ill.
- WHPA in Macomb, Ill.
- Translator stations in Bloomington, Beardstown, Decatur, Jacksonville, Springfield, and Lincoln, Ill.
The stations are being sold by Cornerstone Community Radio Inc. to Good News Radio, the Illinois-based religious noncommercial radio station owner led by President Mark Burns.
The deal is valued at $1.1 million.
A $10,000 downpayment has been made to CCR by GNR, with a $90,000 payment made at closing.
Then, a $1 million promissory note will be enacted, paid in monthly installments of $8,300 for a 10-year period.
The final installment, however, includes a balloon payment and will be $4,000 — should the deal close successfully.
No sale of any real estate or of the stations’ licenses are permitted until after the deal’s terms are fully met.
There is no listed broker or finder in this transaction.
