Michael Glinter originally acquired WBZK-AM in a swap that allowed Davidson Media to build an AM duopoly in Baton Rouge. Now he’s selling it to Stuart Epperson Jr.’s Truth Broadcasting Corporation so they can build an AM duopoly in the Charlotte-Gastonia-Rock Hill Arbitron market.
Glinter’s licensee company is 980 AM Inc. It’ll receive $400K cash for the station, less a credit for a security deposit and rent paid by Truth for the stations tower site lease. Truth will operate the station under a Time Brokerage Agreement that began 8/16/10.
Broker John Pierce handled the sale, which brings the Christian programming of WBZK together with the Christian/educational/talk offerings of Truth’s WCRU-AM, serving the market from Dallas NC.
Glinter originally acquired the station in a straight-up swap with Davidson for WPYR-AM Baton Rouge LA, a deal that created a Baton Rouge duopoly with WGSO-AM and gave Glinter a station closer to home, according to Pierce. Pierce estimated at the time that the swap sent $400K in value in each direction, so the $400K being paid by Truth now would be on par with the swap, which closed in September of 2008.
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