For the third time in recent months, a deal to spin a Radio Disney outlet has surfaced. This time, the venue is the Norfolk-Virginia Beach-Newport News market, the station is WHKT-AM Portsmouth VA, and the buyer sold the station to Disney in the first place, back in 2002.
That would be Stuart Epperson’s Chesapeake-Portsmouth Broadcasting. According to the brokers for the deal, Bill Schutz for the buyer and John Pierce for the seller, the price is $350K cash.
That is well below the price paid by Disney to get the expanded-band 1650 kHz facility from Epperson in a deal filed in 2002 – that one, which included WHKT’s standard-band partner WPMH-AM 1010 kHz, went down for $1.075M.
Disney LMA’d WPMH back to C-PB back at the time; it successfully applied for extended life (it was to be shuttered back in 2006); and C-PB is still said to be operating it under new calls WRJR-AM.
C-PB also owns WLES-AM Bon Air VA, WPMH-AM Claremont VA and WTJZ-AM Newport News VA.
Disney sold off KQAM-AM in the Wichita market for $350K and just filed to sell WMNE-AM in the West Palm Beach market for $500K.
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.