Kristin Cantrell’s Seven Mountains Media is acquiring 34 stations and 12 translators from father Kerby Confer, Donald Alt, and Lynn Deppen’s Forever Media Inc. for $17,375,000 with $1,757,500 coming in the assumption of debt.
The deal will include Forever’s stations in Altoona, Johnstown, Lebanon, Meadville/Franklin, and State College PA.
The stations involved in the deal are:
Altoona PA: Country “Froggy 98.1” WFGY, CHR “Hot 100.1” WWOT, AC 103.9 WALY, Classic Rock “Rocky 104.9” WRKY-FM, Oldies “Toona” 1430 WTNA/99.7 W259DG, News/Talk 1290 WFBG/104.5 W283DI
Johnstown PA: CHR “Hot 92.1” WJHT Johnstown, Country “Froggy 95.5” WFGI-FM Johnstown, AC “Key 96.5” WKYE Johnstown, Christian AC “K-Love” 97.7 WLKH Somerset, Classic Rock “Rocky 99.1” WRKW Ebensburg/93.9 W230BK Johnstown, Classic Hits “Cool 101.7” WCCL Central City, News/Talk 1490 WNTJ/104.5 W283CX Johnstown and 990 WNTI/103.5 W278CR Somerset
Lebanon PA: Country “Froggy Valley 100.1” WFVY-FM Lebanon and News/Talk “Wilbur 1270” WLBR Lebanon
Meadville/Franklin PA: Classic Rock “Rocky” 94.3 WRQI Saegertown/107.7 WRQW Cooperstown, Classic Country “Willie 95.1” WYLE Grove City, Country “Froggy” 98.5 WGYI Oil City/100.3 WGYY Meadville, AC “Majic” 99.3 WHMJ Franklin/104.5 WXMJ Cambridge Springs, News/Talk 1200 WKST/97.9 W250CW New Castle, Classic Hits 1280 WUZZ/97.5 W248DJ New Castle, and News/Talk “Allegheny News Talk Sports Network” 1230 WTIV/105.3 W287DC Titusville, 1450 WFRA/98.1 W251CL Franklin, and 1490 WMGW/100.7 W264DK Meadville
State College PA: Hot AC “Majic 93.7” WMAJ Boalsburg, Classic Rock “99.5 The Bus” WBUS Centre Hall, Country “Big Froggy 101.1” WFGE State College, Classic Hits “Happy 103.1” WAPY State College, News/Talk 1390 WRSC/93.3 W227DV State College, and Sports “ESPN Radio” 1450 WQWK/103.7 W279DK State College
As part of the deal, the current Seven Mountains Media cluster of CHR “B94.5” WBHV-FM State College, Hot AC “95.3 3WZ” WZWW Bellefonte, Oldies 97.1 WOWY University Park/103.5 WHUN-FM Huntingdon, and Classic Country “Bigfoot Legends 98.7” WLEJ Pleasant Gap will be transferred to current Seven Mountains Media Chief Operating Officer Jim Loftus’ Covenant Communications for $1 million.
Forever Media will retain its stations in Milford and Wilmington DE, Cumberland, Easton, and Salisbury MD, and Lancaster/York and Pittsburgh PA.
At closing, which is planned to be on December 31, Forever will terminate all existing employees of the stations included in the deal, with Seven Mountains making offers of at-will employment to those that it wishes.
This story first appeared on radioinsight.com