Hoosier Group Spun To Hopeful New Owner
The Terre Haute, Ind., market, which largely includes nearby Paris, Ill., is the home of a non-commercial group of religious stations presently operated by Word Power Inc.
On March 16, this group signed off on an agreement that would assign its two AMs, two FMs, two FM translators and one FM translator construction permit to a new licensee.
American Hope Communications is agreeing to acquire the following properties from Word Power Inc.:
- WPFR-FM 93.7 in Clinton, Ind., a Class A
- WPFR-AM 1480 in Terre Haute, a Class B with 5kw daytime from 3 towers and 1kw nighttime from 4 towers
- WKZI-AM 800 in Clinton, Ind., a 250-watt Class B from 1 tower
- WLHW-FM 91.5 in Clinton, Ind., a 6kw Class A
- W234CK at 94.7 MHz in Casey, Ill., W300DD at 107.9 MHz in Greenup, Ill., and CP W292FT in Terre Haute
The deal is valued at $179,000. A $35,800 escrow deposit has been made.
The buyer is led by Richard Wheeler, who is represented by Jeffrey Southmayd of Palm Coast, Fla. He’s the President of Countryside Broadcasting, which owns and operates WJLY-FM 88.3 in Ramsey, Ill. The deal suggests WJLY’s mission of serving South Central Illinois with the word of God could be widening to Terre Haute.
American Hope will assume Word Power’s lease agreement with Paul Ford for real estate used for a radio transmission tower, satellite dish receiver, and “appurtenant equipment.”