Six weeks after closing on his $1.25 million acquisition of Brokered Business/Talk 1470 WWNN Pompano Beach FL and translators 95.3 W237BD Boca Raton and 96.9 W245BC Lauderdale Lakes/Fort Lauderdale FL from Beasley Media Group in early April, Marc Paskin’s Marco Broadcasting is turning around and selling the stations to Vic Canales Media Group for a $200,000 profit.
The purchase payment will be made via an immediate $100,000 deposit, $850,000 at closing, $300,000 on or around December 31, $100,000 on or around May 31, 2023, and $100,000 donated to a charity of Paskin’s choice on or around May 31, 2023. An LMA will take effect ahead of closing, but is not specified in the sale contact.
Vic Canales Media Group owns “True Oldies 95.9/106.9” W240CI North Palm Beach/W295BJ Jupiter fed via Hubbard’s 103.1 WIRK-HD3. If they add the acquired signals to that network it will expand the programming to the southern part of Palm Beach County and northern Broward County.
This story first appeared on radioinsight.com