Stuart Epperson Jr.’s Truth Broadcasting is reacquiring a Winton-Salem NC station it sold to Iglesia Neuva Vida of High Point, and in exchange it’s swapping a York SC station serving the Charlotte NC market.
WEGO-AM is the station going back to Truth. It’s licensed to Winston-Salem and serves the Greensboro/Winston-Salem/High Point market. It’s a Class D on 690 kHz with 1.3 kW-D, 49 W-N, NC. It is oriented to its city of license and does not put a primary signal over the other two municipalities that make up the market’s name.
Iglesia Neuva Vida, headed by Javier Fernandez, will pick up WBZK-FM York SC. It too is a Class D, operating on 980 kHz with 3 kW-D, 167 W-N, DA2. It serves the Rock Hill SC portion of the Charlotte-Gastonia NC-Rock Hill SC market.
In addition to the straight swap of the stations, Truth will excuse money owed by Iglesia in the earlier WEGO deal, amounting to $46,501.73.
The sale of WEGO was memorialized in a 5/4/10 contract. Iglesia agreed to pay $500K for the station, with $175K paid in cash and the rest covered by a promissory note.
Truth acquired WBZK at just about the same time, pursuant to a 8/11/10 contract with seller 980 AM Inc. headed by Michael Glinter. The price was $400K.
WEGO will be Truth’s fifth AM in the Greensboro/Winston-Salem/High Point market, joining WPOL-AM and WSMX-AM of Winston-Salem, WKEW-AM of Greensboro and WTRU-AM of Kernersville.
Truth will also have one station remaining in the Charlotte area, WCRU-AM Dallas NC.
Iglesia will have two stations in the Charlotte market, WBZK and WDYT-AM Kings Mountain NC.
Iglesia also has a station remaining in the Greensboro area, WGOS-AM High Point NC.