Norman Shapiro’s Chicago-based Weigel Broadcasting Co. isn’t just gaining a channel-sharing agreement for the Azteca América affiliate in Los Angeles (see story here).
The company’s TV-49 Inc. has just snagged a full-power TV station in the Gateway City from a not-for-profit entity that’s been using it for religious programming.
It’s the top deal for RBR+TVBR’s TRANSACTIONS TODAY for Tuesday, Sept. 12, which also sees Larry Fuss make a deal in the Deep South and Art Agnotti make an “artistic” move in Indiana.
Weigel-controlled TV-49 Inc. is acquiring KNLC-24 in St. Louis. It’s a full-powered facility that has been locally owned by New Life Evangelistic Center.
New Life has now agreed to sell KNLC, which signed on the air 35 years ago today (9/12).
The price its fetching for the facility? It’s a bargain, with KNLC going for $3.75 million. A $190,000 escrow deposit has been made by TV-49.
There is no broker associated with this deal.
In other TRANSACTIONS TODAY:
- Art Agnotti is merging his Sound Management LLC with his Artistic Media Partners by bringing in South Bend, Ind., properties WNDV-FM 92.9 “U93,” WYXX-FM 92.7 in Goshen, and WYET-FM 102.3 in New Carlisle. The deal is valued at $3.4 million.
- A silent facility authorized for 6kw in Eudora, Ark., is trading hands. The station is KAVH-FM 105.5, and it is being sold to Nevada-based Contemporary Communications by J. Kinlow & A. Kinlow-Glosson (representing the J. Kinlow estate) for $75,000. A $5,000 escrow deposit has been made to the seller. Contemporary is led by Larry Fuss — 55% owner of WKXY-FM in Merigold, Miss.; 100% owner of WMYQ-FM in Moorhead, Miss.; 19% owner of Delta Radio Network; and President/CEO of South Seas Broadcasting, licensee of KKHJ-FM and WVUV-FM on American Samoa.