Twists and turns in the sale of South Bend FM


$816K WHFB-FM South Bend IN (Benton Harbor MI) from WHFB Broadcast Associates LP (G. Woodward Stover II), related to Wincom Communications Inc., to Douglas Road Radio Inc., a subsidiary of Summit Radio II LLC (Michael R. Leep, Kristen Guernsey-Leep). $20K cash from DRR to seller. DRR is acquiring rights to buy station from WSBT Inc. pursuant to a 10/23/98 LMA/option on both WHFB-AM and FM. Seller retains the AM. WSBT, a subsidiary of Schurz Communications, has an interest in DRR and the $796K in value beyond DRR’s payment to seller will be considered a capital contribution from Schurz to DRR. $816K is the agree-upon fair market value of WHFB-FM. DRR is also buying WZOC-FM Plymouth IN, and will operate Schurz’s WSBT-AM/WNSN-FM South Bend for a de facto 1-AM 3-FM superduopoly. [FCC file date 4/6/12]