High Point Station sold

[lagarto1958]

Transactions At A Glance
Ritchy Broadcasting’s WGOS-AM/High Point, N.C., to Iglesia Nueva Vida of High Point for $750,000 … Educational Media Foundation's WPRZ-FM/Newton Grove, N.C., to Grace Missionary Baptist Church D/B/A Grace Christian School for $300,000

North Carolina

WGOS-AM/High Point (Greensboro-Winston Salem-High Point)
PRICE: $750,000
TERMS: Asset sale for cash
BUYER: Iglesia Nueva Vida of High Point Inc, headed by President/Treasurer Javier Fernandez. Phone: 336-471-1839. It owns no other stations. This represents its entry into this market.
SELLER: Ri tchy Broadcasting, headed by President Simon Ritchy. Phone: 336-434-5024
FREQUENCY: 1070 kHz
POWER: 1kw
FORMAT: Spanish/talk/religion
COMMENT: Ritchy Broadcasting’s WGOS-AM/High Point, NC to Iglesia Nueva Vida of High Point for $750,000. $37,500 escrow deposit plus $712,500 cash at closing.

 

[realradioplayer]

why do all these little stations try to go against 94.5? GBT has the spanish market sewed and is making money to boot.

 

[quadraphonic]

Both stations were sold to churches, so it probably won't go with the same format as 94.5.
At least originally. Eventually......eh who knows?

That sounds like A LOT of money for 1070.....

 

[XTalker]

Take the money and run like hell!!!

 

[DubbaDon]

Simon has held that station for years, seems like decades. Part of Dusty Dunn's retirement had to do with the pending sale or was it the retirement convinced Simon to sell?

Simon's daughter still is in the building - so to speak. She and her husband are running McCool's and other restaurant/bars located in her father's building. The last of the old-time downtown Greensboro folks.

 

[quadraphonic]

I might even help them move in, XTalker, but I'd probably be on a vacation when they did.