A trio of do-it-yourself FMs in the Midwest is going to be built by somebody other than the successful bidder. But the new licensee will be in the same business category as the seller, retaining the seller’s right to a 35% bidding credit.
The seller is Joe D. Gregory, who procured the trio of FMs-to-be during FM Auction No. 70. The buyer is Justin McLuckie.
The price is $70K, almost all of which will be paid pursuant to terms of a promissory note. The note will cover everything except a $1K down payment.
$40K is allocated to a Class C3 licensed to Marceline MO, to be built on 99.1 MHz with 25 kW @ 328’.
$25K is allocated to a Class A on 97.1 MHz earmarked for North English IA. It’ll have 6 kW @ 328’.
$5K is allocated to a Class C2 that will be licensed to Arnett OK, with 50 kW @ 492’ on 104.9 MHz.
There is no overlap between any of the three, nor are any of them in Arbitron-rated territory.
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.