J.C. Van Ginkel is selling his stakes in multiple Iowa holding companies.
Wireless Broadcasting, owner of Oldies “Kool Gold 105.3” KNOD Harlan, will see Van Ginkel sells his 55% stake for $222,000 plus 22/45ths of accounts receivable and cash on hand as of April 30. James Field’s interest will rise to a controlling 50.%% of the company. Rodney Christensen’s percentage rises from 22.2% to 39.6%, and Becky Christensen will add 9.9% of the company.
Van Ginkel and his sons will receive $867,000 plus 2/3rds of the accounts receivable and cash on hand for their 66% stake in Crawford County Broadcasting Company’s Farm/Country 1530 KDSN and AC 104.9 KDSN-FM Denison. Field’s stake will increase from 16.6% to 50.5% making him the majority shareholder.
Van Ginkel’s 55.5% stake in Wireless Communications Corp.’s AC 1220 KJAN/101.1 K266AN Atlantic will be redeemed for $564,000 plus 25/45ths of accounts receivable and cash on hand as of April 30. James Field will become controlling owner there as well with his stake rising from 22.2% to 50.5%.
Robert Hunnicutt’s Big Show Holding acquires R&B Oldies/Beach “92.9 The Soul Mine” WYBO Waynesboro GA from John Smith for $60,000. Hunnicutt owns an LPTV in Augusta as well as 70% of Gospel “Spirit 1600” WKZK North Augusta SC as well as all of its translator 103.7 W279BY Augusta-Richmond County GA.
West Central Michigan Media Ministries buys the CP of 88.1 WLWS Iron Mountain MI from Cornerstone Community Radio for $13,000.
After acquiring Silent 90.9 WFAZ Goodwater AL last week, Lee Perryman’s RadioAlabama Foundation acquires Silent 89.7 WJHO Alexande City AL from Volunteer Broadcasting for the assumption of all debts and the release of liens on the station by its bank.
Lyle Reynolds’ Red Mountain Ventures sells 1450 WZGX Bessemer/Birmingham AL to Roscoe Miller’s Autaugaville Radio for $20,000. An LMA took effect on MArch 12. Autaugaville Radio owns Adult R&B “The Big KD” 950 WZKD/94.1 W231DF Montgomery and 920 WXKD Brantley/106.3 W292HL Troy and “K95.7” WKXN Fort Deposit/96.7 WKXK Pine Hill.
This story first appeared on radioinsight.com