Bethany College may be selling WVBC-FM Bethany WV, but it will still have a relationship with the station for a good ten years, or if not that, a percentage of the station’s resale price, should that be the path buyer Pittsburgh Public Media eventually chooses.
PPM is headed by Chuck Leavens, and the acquisition will give it its first station.
The 88.1 MHz facility is not what you’d call a Pittsburgh station, although it’s outermost fringe contour gets to the western parts of the market. It’s a Class A with 1.1 kW @ 410’. The main contour makes it to part of Steunbenville OH to the north and Wheeling WV to the south. Pittsburgh is to its east.
The price for the station will be $135K, with $15K in earnest money headed for an escrow account. The remaining $120K will be paid pursuant to terms of a promissory note.
There are many other factors in this deal, however. Here’s the laundry list of conditions, most of which apply for the duration of a 10-year post closing covenant:
* Bethany College retains all rights to the call letters and the station’s intellectual property
* If PPM resells the station, BC will receive 25% of any sale value greater than $135K
* The station will provide two internships annually for students selected by the college
* For five years, the station will make the following statement on the air once an hour: “From Bethany West Virginia, home of Bethany College, this is [new calls] Bethany”
PPM detailed its own program plans. It will provide local, national and international news; a public forum for various issues; jazz, ethnic and regional music; and educational material.