Schroedingers Cat said:
The most likely scenario is that someone made an offer to buy the land for much more than the station is worth. You'd think that with all the vacant land with torn down factories, they wouldn't need to buy an occupied parcel though.
Old factory sites have a high probability of being financial nightmares. A high-school friend of mine went on to become something of "little league" Mitt Romeny. He was handed capital and told to go find good investments. He bought a company in Texas. He was convinced it would be a winner. I don't remember the exact price tag, but I will use the number that seems to rattle around in my memory. The EPA came in and told him he would have to remediate some vacant land that had been contaminated by the factory over the last half-century. It cost him about $38 million in unexpected clean-up. With a big smile, he said: "No big deal. The company turned out to be better that I thought it was. We paid the 38 million in clean up and I still met all my financial goals and operating predictions."
When you buy what has been a radio station transmitter site for the last 40, 50, 60 years, you have a low probability of finding contaminated land. Old factory sites are often the last land developed in a community because they can be full of land-mines.