Deals have arrived at the FCC spelling out the details that will send two low power television stations outright and a 60% share of a third station to new owners. The stations are in Delaware, Washington and Florida.
The biggest of the trio is for WRDE-FD Rehoboth Beach DE, which is part of the Salisbury-Ocean City MD DMA. Pi Omni Media LLC, headed by Richard Scott, is getting it for $500K from Thomas E. Michel’s Price Hill Television LLC. Burt Sherwood & Associates is holding a $350K escrow deposit which will be turned over to the seller at closing, and the remaining $150K will be paid six months thereafter. Pi is also selling a $650K promissory note to Price Hill.
In Olympia WA, John Fiori and his Fiori Media Inc. is sellinbg KRUM-LD to Centro Familiar Cristiano, headed by Arturo Gonzales. The deal is valued at $250K, with MCH Enterprises holding a $10K deposit, $40K coming in cash at closing and the remainder covered via a $200K promissory note. The deal sends the station out of the commercial and into the non-profit realm.
Finally, Leonard Slazinski is buying the 60% stake that Marie Price holds in Three Grand TV LLC, licensee of WMDF-LP Key West FL. The price is $50K, with half put in escrow and the remainder paid in cash at closing.