In 2017, Dick Broadcasting agreed to acquire Alpha Media’s stations Kinston/New Bern/Jacksonville NC, Myrtle Beach SC, and Savannah GA/Hilton Head Island SC. The original deal was structured with Dick paying $14.5 million for the New Bern and Myrtle Beach clusters and $5 million for Savannah with the later purchase not to close until December 31, 2019.
That deal has been amended three times and has finally been filed with the FCC. Following the amendments, Dick will now pay $2.25 million for the Savannah/Hilton Head cluster plus receive a $600,000 credit for Alpha’s sale of the clusters former studio building in Hilton Head. The price will be increased by the amount equal to the difference between $150,000 and the LMA fees paid during 2021.
Dick began operating the stations via Time Brokerage Agreement in September 2017. The stations involved in the deal are: CHR “Hot 98.3” WGCO, Classic Hip-Hop “G100.1” WXYY, Rock “Rock 106.1” WFXH, Country “Bob 106.9” WUBB, Classic Hits “Rewind 107.9” WRWN, and Regional Mexican “La Pantera 96.1” 1130 WHHW/96.1 W241CV.
This story first appeared on radioinsight.com