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Virden Broadcasting Acquires Three Illinois Outlets

Y2kTheNewOldies

Y2kTheNewOldies

http://news.radio-online.com/cgi-bin/rol.exe/headline_id=b15034

Virden Broadcasting Corp. has agreed to acquire three Illinois outlets from Withers Broadcasting Company of Rock River for $400,000 cash at closing. VBC will begin operating the stations under a Local Marketing Agreement (LMA) to commence at filing with the FCC. Included in the deal are 6kW Country WZZT-FM (102.7) in Morrison and 500W News/Talk WSDR-AM (1240) and 6kW AC WSSQ-FM (94.3) in Sterling. Virden Broadcasting is headed by President Fletcher Ford, while Withers Broadcasting is headed by President Dana Withers. Patrick Communications brokered the deal for Withers.
Click to expand...


Here are the stations affected by the deal.
 
Withers has been selling stations at a rapid clip since the death of Russ Withers.

Here's the listing I know about:
2016: WYNG-FM / Mt. Carmel to K-Love
2016: KRNQ-FM / KOKX-FM / Keokuk, IA to K-Love
2016: KOKX-AM / WCEZ-FM / Keokuk, IA to Riverfront Broadcasting
2016: WDTV-TV/WVFX-TV / Clarksburg WV to Gray Broadcasting
2017: WROY-AM/WRUL-FM / Carmi to Original Co.
2017: WZZT-FM/WSDR-AM/WSSQ-FM / Sterling & Morrision to Virden Broadcasting

I wonder how many stations Withers is trying to sell...
 
In the case of the Keokuk cluster, K-Love got a very sweet deal, from what I hear the Withers son that was in Keokuk was very active with Christian broadcasting in the area and maybe that's why a class C1 at 750' and a C2 were sold to K-Love for $500,000. But then the remaining AM-FM, KOKX AM 1310 1kW D 500w N and class A WCEZ was sold for $100,000. Keokuk is a very tired river town of maybe 9500 people, but it isn't that tired, even if the stations had very little billing on the books, which was rumored to be the case.

Same thing with the Sterling cluster. One would have thought those stations would have brought a little more than $400k, even if they had little to no billing.
 
K-Love is already unloading KRNQ. A sale was announced today to "Community Broadcasting Inc" of Overland Park, KS, which will make it a simulcast of KSIV/St. Louis. Sales price of $125,000.
 
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