ASR records are for the equipment ”Antenna Structure”. Doesn’t have anything to do with the land.
I checked with the Secretary of State website, and Lincoln Financial Media was acquired by Greater Media which is a subsidiary of Beasley. So Beasley owns the land. Again, you’ve presented nothing to contradict that.
And the full answer is we are BOTH right...
From the 2016 sale contract of 610, 1110, 99.3, and 107.9 from Beasley to Entercom (with rights later transferred to Radio One), Radio One owns the land under the towers and transmission building, with Beasley retaining the remainder. Should Radio One decide to sell the land, Beasley gets 60% of the proceeds and Radio One 40%.
WBT-AM Transmitter Site.
(a) Buyer will be granted a perpetual interest in the WBZ Land for $1 per year
pursuant to a lease agreement with respect to the use of the land (“WBT Lease”) and a
deed of trust with respect to Buyer’s interest in the event of a sale of the WBT Land
(“WBT Deed of Trust”). The form of the WBT Lease and the WBT Deed of Trust will
be mutually agreed to by the parties, in good faith, prior to Closing and the forms thereof
shall be consistent with customary industry AM land leases and real estate provisions,
provided that Buyer’s use of the WBT Land shall not be exclusive but shall be subject to
the requirements set forth herein and in the WBT Lease and WBT Deed of Trust. Buyer
will own all improvements on the WBT Land.
(b) If Seller or its successors decide to sell the WBT Land (which sale shall be
subject to Buyer’s (and its successor’s) continuing right to use the property pursuant to
the WBT Lease and the WBT Deed of Trust), then proceeds will be used to first
reimburse Buyer for the estimated cost, as mutually agreed upon by Seller and Buyer, (or
actual cost if Buyer elects to relocate) of relocating WBT-AM (including new land,
towers, etc.) and Buyer and Seller (or their respective successors) shall split the
remaining profits as follows: with 60% to Seller and 40% to Buyer.
(c) If Seller or its successors desire to develop the WBT Land (by allowing its
use by any third party in any manner), then Seller (or its successors) shall not do so
without the prior written consent of Buyer or its successor, such consent not to be
unreasonably withheld; provided that Buyer’s failure to consent to develop the WBT
Land shall not be deemed to be unreasonable if such development would impair or
interfere with Buyer’s use of the site consistent with its past practices. If the parties
consent to development of the WBT Land (which shall be subject to Buyer’s (and its
successor’s) continuing right to use the property pursuant to the WBT Lease and the
WBT Deed of Trust), proceeds will be used to first reimburse Buyer (or its successor) for
the estimated cost, as mutually agreed upon by Seller and Buyer (or their respective
successors), (or actual cost if Buyer elects to relocate) of relocating WBT-AM (including
new land, towers, legal fees, lease costs, etc.) and Buyer and Seller (or their respective
successors) shall split the remaining profits as follows: with 60% to Seller and 40% to
Buyer.