January 20, 2014
JVC Media/JVC Broadcasting has expanded with JVC Media of Florida_s announcement to purchase a Gainesville/Ocala, FL cluster from Asterisk Communications last May. It has been operating the stations in an LMA since. On January 17, JVC filed its formal application to acquire the stations for $3.5 Million.*
The stations include Hot AC WMFQ-FM, Country WTRS-FM/WYGC-FM simulcast and Rhythmic CHR WXJZ (_Party 100.9_). The $3.5 million deal includes $350K down, $500,000 in a promissory note and $2,650,000 cash at closing.
JVC will spin its CHR/Dance WBXY-FM (_Party 99.5) in that market to RMA Media (Ricardo Arroyo) for $500K. On December 26, Party 99.5_s format was moved to JVC_s WXJZ-FM (100.9) last month. John Caracciolo and Victor Canales are the principals of JVC, and financing is provided by Northwood Ventures. The stations include two primarily serving the Ocala and three oriented to the northern Gainesville side.
WTRS-FM Dunnellon, a Class C2 on 102.3 MHz with 50 kW @ 489_
WMFQ-FM Ocala, a Class C2 on 92.9 MHz with 50 kW @ 476_
WXJZ-FM Gainesville, a Class A on 100.9 MHz with 6 kW @ 299_
WBXY-FM La Crosse, a Class A on 99.5 MHz with 2.2 kW @ 472_
WYGC-FM High Springs, a Class A on 104.9 MHz with 3.2 kW @ 449_
George Reed of our Jacksonville, FL office represented the seller in this transaction.
*Pending FCC Approval