Jim Leven and Bruce Mittman are buying out the 82.523 percent stake in Community Broadcasters held by Northwood Ventures, Northwood Capital Partners and Paul and Jana Homer. The duo will pay $2,849,369. After closing Leven will hold 58% equity and Mittman 42%, but each will have 50% of voting stake. Community Broadcasters owns 24 stations and eight translators in the New York markets of Ogdensburg and Watertown and South Carolina markets of Florence, Sumter and Orangeburg.
Michigan based Christian AC network Smile-FM is adding its second signal in Arkansas with the acquisition of 95.5 KOYH Elaine AR from Alfred L ‘Pat’ Roberson III for no consideration. Smile-FM also owns 88.5 KOYR Yorktown AR, while the rest of its stations are Michigan or adjacent parts of Ohio.
Dennis Yelton is selling his 33.3 percent interest in BroadCo of Texas Inc.’s AC “Magic 95” 95.3 KMGZ Lawton and “Hot Country 97.3” K247BA Lawton OK to Fred Morton for $100,000 plus an additional $80,000 non-compete agreement paid monthly over five years preventing Yelton from competing within a 65 mile radius of Lawton. The deal will give Morton a 66.6% stake in the company with Linda Meyer retaining her 33.3% share. Morton also owns the 105.5 K288FQ Lawton translator that operates as part of the cluster as “Sooner Classic Hits“.
Translator Sales
Sunnylands Broadcasting donates 106.3 K292HN Centralia WA to Iglesia Pentecostal Vispera Del Fin valuing the assets at $30,000. K292HN currently rebroadcasts Centro Familiar Cristiano’s 93.7 KLSY Belfair WA.