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Wisconsin Radio Station Swap

D

Don_Rosen

From the well run website NorthPine.com:

NRG Media and Donald Seehafer are trading some stations. NRG will get WLRK/107.9 (Wausau), and in exchange, Seehafer will get WDLB/1450 (Marshfield), WOSQ/92.3 (Spencer-Marshfield), and WFHR/1320 (Wisconsin Rapids). The deal will split up several longtime AM-FM partners: Seehafer retains WXCO/1230 (Wausau), while NRG retains WLJY/106.5 (Marshfield) and WGLX/103.3 (Wisconsin Rapids), as well as WYTE/96.7 (Whiting-Stevens Point).
 
> From the well run website NorthPine.com:
>
> NRG Media and Donald Seehafer are trading some stations. NRG
> will get WLRK/107.9 (Wausau), and in exchange, Seehafer will
> get WDLB/1450 (Marshfield), WOSQ/92.3 (Spencer-Marshfield),
> and WFHR/1320 (Wisconsin Rapids). The deal will split up
> several longtime AM-FM partners: Seehafer retains WXCO/1230
> (Wausau), while NRG retains WLJY/106.5 (Marshfield) and
> WGLX/103.3 (Wisconsin Rapids), as well as WYTE/96.7
> (Whiting-Stevens Point).
>


Wow! What an interesting trade! I'm not sure how they're going to split up facilities like that, I can't imagine that it will be very easy.<P ID="signature">______________
</P>
 
As moderator, I received this e-mail:


Radio-Info is retransmitting Northpine's story, which is wrong.

Seehafer's 51-page contract says he sells WLRK-FM Wausau and
gets the Spencer FM and Marshfield AM and Wisconsin Rapids AM
AND $3.7 MILLION CASH.

You have to read the contract to see there's cash, too! It's on page 6 of
the contract that's at FCCinfo.com.

RBR will have the story tomorrow morning, but it looks like you put out
this story like it's a swap of a 100KW FM for a 5KW AM day 500 w night
and a Class A in a town of 1900 and a Marshfield AM like it's an even
swap... it's not.
 
Well, actually, it's on page 50, not page 6, which is why I missed it the first time I looked at the "Like-Kind Exchange Agreement" (station sales involving cash are normally called "Asset Purchase Agreements.") There is a mention of a "closing payment" on page 6 which I should've caught. Every sale agreement I've seen up to this point had the price listed under the "purchase price" heading; this one does not.

Of course, technically, my original post never said that cash WASN'T involved. :)

(Not that that's an excuse!)
 
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