Davis Media will acquire JAM Media Solutions’ seven stations in two markets out of Chapter 7 bankruptcy liquidation.
Davis will acquire Classic Country 860 KWPC/95.1 K236CF and Rock 93.1 KMCS Muscatine IA and four stations in North Carolina’s Outer Banks: Rock “Z92.3” WZPR Nags Head, Country “Big 94.5” WCMS Hatteras, AAA “99.1 The Sound” WVOD Manteo, and Hot AC “Beach 104” 104.1 WCXL Kill Devil Hills along with two tower properties and other equipment and assets for $800,000. From that $150,000 will be retained by Davis Media to correct any antenna, transmission line, lighting, structural, or maintenance issues at the tower of WCMS. Upon completion of all repairs, any additional funds will be transferred to the seller.
A Time Brokerage Agreement will take effect on May 1.
Davis Media currently owns Country “93.7 The Dude” WNTB and AAA “98.3 The Penguin” WUIN in Wilmington NC and AAA “92.3 The Tide” WTYD and “107.9 Cannon Country” WBQK in the Williamsburg VA area. The company also owns local news platforms in both markets similar to JAM’s OBXToday.com in the Outer Banks.
This story first appeared on radioinsight.com