To "Spectrum Radio Fairmont" for $1.25 million. Principals are two D.C. area residents--Alan Michaels and Robert Woodward. Interesting: 19% owner is the State of WV through the "WV Jobs Investment Trust Board."
Stations are WMMN, 920 and WTCS, 1490 Fairmont, WRLF Fairmont, and WZST, Westover/Morgantown 100.9
Fantasia stations sold
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Tom Taggart
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Scott Reppert
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Re: Fantasia stations sold
1). Skittles sales will plummet.
2). I want the gold record...
2). I want the gold record...
Scott Reppert
Music Director/Program Director/On-Air Personality
WTCS/WFGM/WMQC/WAIJ/WLIC/WRIJ/WKJL/WRWJ/WPCL/WWPN
Operations Manager: Hope Radio, T8WH, Palau
Production/Editor: "Believe Right" and "MFC WorldWide"
"For mine eyes have seen Thy salvation"--Luke 2:30
Music Director/Program Director/On-Air Personality
WTCS/WFGM/WMQC/WAIJ/WLIC/WRIJ/WKJL/WRWJ/WPCL/WWPN
Operations Manager: Hope Radio, T8WH, Palau
Production/Editor: "Believe Right" and "MFC WorldWide"
"For mine eyes have seen Thy salvation"--Luke 2:30
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Greg Goodfellow
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Re: Fantasia stations sold
Dumb question, but that's how I roll...
Does that price tag seem a tad low, even in these times? I know a couple of AM's are involved, but the Fairmont-Morgantown area is growing. For those of you far better versed than I on such things, please enlighten me!
BTW, Happy Easter, everyone!
Does that price tag seem a tad low, even in these times? I know a couple of AM's are involved, but the Fairmont-Morgantown area is growing. For those of you far better versed than I on such things, please enlighten me!
BTW, Happy Easter, everyone!
"Television is a medium because anything well done is rare."
~ Fred Allen ~
“Radio is the theater of the mind; television is the theater of the mindless”-Steve Allen
~ Fred Allen ~
“Radio is the theater of the mind; television is the theater of the mindless”-Steve Allen
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Lester
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Re: Fantasia stations sold
Several years into a crappy economy? 1.2 might be right on target.
"WV Jobs Investment Trust Board" - Does this mean an expectation of live, local and contributing to the economy talent?
"WV Jobs Investment Trust Board" - Does this mean an expectation of live, local and contributing to the economy talent?
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Tom Taggart
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Re: Fantasia stations sold
I am assuming this board is set up somewhat like the SBA, providing loans for small business. The 19% interest in the new company is probably a way to get around the FCC's prohibition on lenders taking a secured interest in the station license. In case of default, the Board simply takes over the company from the other two owners & sells the stations. Simply requires the filing of the appropriate FCC forms.
Fantasia owns the 920 AM site, which is a couple of acres on a hilltop above Monongah, and one of those 30's style transmitter buildings (not in the greatest shape, however). I would assume he also owns the 1490/94.3 site.
Westover/ 100.9 is located on a rented site next to a volunteer fire department a couple miles south of I-64 on US 119. Don't know about the studios. So there may not be that much real estate tied to the deal.
Notice that both the principals live in the D.C. area. Safe assumption is that they know somebody who knows somebody to get the state money.
Fantasia owns the 920 AM site, which is a couple of acres on a hilltop above Monongah, and one of those 30's style transmitter buildings (not in the greatest shape, however). I would assume he also owns the 1490/94.3 site.
Westover/ 100.9 is located on a rented site next to a volunteer fire department a couple miles south of I-64 on US 119. Don't know about the studios. So there may not be that much real estate tied to the deal.
Notice that both the principals live in the D.C. area. Safe assumption is that they know somebody who knows somebody to get the state money.
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JKF18
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Re: Fantasia stations sold
I thought 100.9 still broadcasted from several connected rooms high atop the luxurious Ramada Inn?!? 