John Pierce & Company, LLC

 FULL SERVICE BROKERING                         APPRAISALS                                   CONSULTING


(Marc Wilson Blackburn)


SOLD- March 3, 2012- The daisy-chain in San Diego continues, with KCEO (1000) going to a Catholic radio format, and “Seoul San Diego” finding refuge at KURS (1040). Last Saturday brought the official closing of the $2.75 million station and real estate deal where not-for-profit Immaculate Heart Radio purchased KCEO, Vista, California (1000) from Art Astor’s North County Broadcasting. The November 18 TRI had the basics – the station was valued at $1.5 million and the real estate went for $1.25 million. Astor has already transferred the business talk format off of 1000, and onto his KFSD, Escondido (1450). Here’s the third part of the daisy chain – the Korean Language “Seoul San Diego” format previously heard on 1450 moves to Quetzal Bilingual Communications-owned KURS at 1040. That bumps black gospel off 1040. The San Diego Board of Radio-Info.com has tracked the latest format changes on the AM dial, here. Broker on the $2.75 million deal - John Pierce. (Tom Taylor, Inside Radio).

CLOSED- February 13, 2012 KRVA Closed- PacificStar Media II Corporation (Charles S. Kim) has closed on their purchase of KRVA 1600, licensed to Cockrell Hills, Texas (Dallas) from Jack Mortenson. Charles S. Kim expands his radio ownership from Atlanta into Dallas with the purchase of KRVA. Mortenson is a radio ownership veteran, owning over fifty stations in his career, spanning from the late 1960s to current day. Purchase price was $1.4 million. John Pierce acted as the exclusive broker for the deal.

CLOSED- January 18, 2012- Jackson, Mississippi- Backyard Broadcasting first entered into Jackson during the summer of 2002. Backyard Broadcasting has since operated WWJK, a 100,000 watt FM at over 1,100 feet. Additionally, they operated WRXW 93.9 with a rock format. A new page now turns as Backyard Broadcasting closes on their sale of both FM stations to Educational Media Foundation (K-Love) for $2 million dollars. Barry Drake, president of Backyard, states, “While Backyard will miss being in Jackson we are pleased to see these stations go to the quality broadcasters of Educational Media Foundation. Broker for the deal: John Pierce & Company.


CLOSED- December 19, 2011- Louisville, KY Educational Media Foundation (K-LOVE) spins off two Louisville FM translators (W24AD; W24AM). The buyer is Russ Jones’ Anchor Broadcasting, with senior partner Peter Davidson. The two translators sold for $90,000. Exclusive broker for the deal: John L. Pierce.

SOLD- December 6, 2011-Jim Hilliard Sn., President of James Crystal Radio, has agreed to sell the assets of WLVJ (AM), Boynton Beach, Florida to Actualidad 1040AM Licensee LLC. WLVJ was first purchased by James Crystal in July 0f ’98 10,000. WLVJ was first purchased by James Crystal in July of ’98. At the time, the station’s signal was only 10,000 watts; it now broadcasts 25,000 watts. The station’s daytime signal covers all the way from West Palm Beach to North Miami. Last year, Actualidad purchased 1020 AM in Miami. Together, these two stations are almost twin frequencies and cover everything from Miami to Palm Beach. Price for WLVJ is $2.3 million cash. John Pierce & Company acted as the exclusive broker.

SOLD- November 1, 2011- Roswell, New Mexico- James Crystal Radio sells a powerful 50,000 watt radio station, KCKN 1020. The buyer is Radio Vision Cristiana, which is based in New York City. At night, during the skywave signal, the station can be heard in many Western states as well as a great portion of the nation and Mexico. Selling price $500,000.00-$350k cash; tax receipt for $150k. Exclusive broker for the deal: John Pierce & Company, LLC

October 31, 2011- Last year, Trevecca Nazarene University agreed to sell WENO 760. The university sold their non-commercial network back in February to Community Broadcasting, which is a related entity to Bott Broadcasting. WENO AM never transferred to the former buyers, however it is now being sold in the following way: Broady Media Group, LLC has entered into an agreement with WENO, Inc. to lease the broadcast time on WENO, Nashville TN for a term of 21 months. At the conclusion of the TBA, Broady will have an option to acquire the license and assets of WENO assuming it has fulfilled its obligations under the TBA.Total purchase price when process is complete: $300,000.00 John Pierced represented Trevecca Nazarene is this process. (Tom Taylor, Inside Radio)

CLOSED- October 20, 2011- Palm Springs- Ron Cohen, president of CRC Media West, LLC has closed on the purchase of KXPS 1010 AM, licensed to Thousand Palms, California. CRC Media West is based out of Phoenix, with highly successful business news/finance station KFNN 1510. Seller was MCC Radio, LLC. Purchase Price $250,000.00. Broker for the transaction: John Pierce & Company, LLC

CLOSED- September 22, 2011- In Muncie, Indiana, Backyard Broadcasting secures an FM signal for its “Fox Sports Radio 1340” WXFN. The followup on the March 23 TRI story is that Backyard has closed on its $45,000 purchase of FM translator W275AJ, Muncie, Indiana from the K-Love network folks, Educational Media Foundation. The terms were unusual, because in 2009, EMF bought then-WURK, Elwood (101.7) from Barry Drake’s Backyard Broadcasting and Backyard agreed to hold a seller note for $500,000. So the 45 grand came out of what EMF owes Backyard. WURK was a classic EMF deal of one-third down in cash and two-thirds in a seller note, for a $750,000 purchase. Backyard’s all-sports WXFN recently switched affiliations from ESPN to Fox Sports Radio, and now that’s being heard on both 1340 and 102.9, thanks to the translator. Broker – John Pierce. (Tom Taylor- Inside Radio).

CLOSED- August 30, 2011- Oklahoma City- Educational Media Foundation (EMF), the parent organization of K-LOVE, has just closed on their purchase of KOCD 103.7 FM from KESC Enterprises. The station has had a country format for quite some time now. EMF already owns FM stations in both Tulsa and Oklahoma City. Agreed upon purchase price was &700,000.0 Exclusive broker for the deal was John Pierce & Company.

CLOSED- July 15, 2011- Boone, Iowa- Businessman and insurance owner Juan Rodriguez (Diversity Insurance) joins the club of radio station ownership as he closed on KTIA 1260 (Des Moines) from Stu Epperson Jr.'s Truth Broadcasting. Agreed upon purchase price was $240k. Exclusive broker for the deal: John Pierce & Company.

CLOSED- May 17, 2011- Pittsburgh- Tim Martz's Power Radio, Inc. has just closed on their purchase of WPYT 660 from Langer Broadcasting Group. Martz is alread simulcasting on a translator that he acquired and recently put on the air. Just last year, Langer sold Boston's WBIX to Holy Family Communcations. Selling price for WPYT was $290k. Broker for the deal: John Pierce & Company.

CLOSED- April 20, 2011- Knoxville- In January of this year, the parent company of K-LOVE, Educational Media Foundation, agreed to purchase the assets of Foothill Broadcasting's stations, WYLV-FM and WDLF- FM. Today, April 20th, the deal officially CLOSED for the purchase price of $4 Million dollars. One of the unique aspects of this sale is that both formats were almost identical to K-LOVE's main format and Hot AC format, "Air 1". Exclusive broker for the deal: John Pierce & Company, LLC.

CLOSED- March 15, 2011- Providence- Salem Communications has just closed on their purchase of WDDZ 550 from Radio Disney. This purchase will compliment Salem's 590 signal in Boston. Agreed upon purchase price was $550k. Broker for the Seller: Bill Schutz, Schutz & Company. Broker for the Buyer: John Pierce & Company

CLOSED- February 17, 2011- Nashville- On November 4th of last year, Bott Broadcasting, under the auspice of non-profit Community Radio, Inc., agreed to purchase the assets of Trevecca Nazarene University's middle Tennessee radio network, including WNAZ FM, WNRZ FM and additional translators. Exclusive broker, John Pierce, announced today the assets have been exchanged and the closing is official at $2 Million dollars.

CLOSED- February 1, 2011- Hartford- William Blount, President of Blount Communications, has just closed on his purchase of WDZK 1550 from Radio Disney. Agreed upon purchase price $500,000. Broker for the seller: Bill Schutz, Schutz & Company. Broker for the buyer: John Pierce & Company.

CLOSED- January 31, 2011- Louisville- Radio Disney turns over the keys in Louisville to Chad Boeger's UB Louisville, LLC. Boeger has been under LMA with Disney since the contract was signed back in October of 2010. Boeger was responsible for the station changing over to ESPN at the time. The Louisville station, WDRD, is 680 on the dial. Selling price $375,000. Boeger also operates two stations in the Kansas City market, including highly rated "Sports Radio 810" WHB. Representing Disney is Bill Schutz of Schutz & Company and representing UB Louisville, LLC is John Pierce & Company.

CLOSED- January 14, 2011- Worcester, MA- New England Broadcast owner, William Blount, has sold one of his AM stations in Worcester. Emmanuel Communications Inc., under the leadership of Raymond Lauring, closed today on their purchase of WNEB 1230- placing their Catholic radio in the market. Lauring's two sons, John and Mark, who are both new to radio, assisted their father in the acquisition of the station. The Lauring family has been involved in the Worcester community for decades. Selling price $500,000.
Blount Communications now owns six station, including stations in Providence, RI, Portland, ME, Manchester, NH and Bridgeport, CT.

 


 

 

 

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