ALEXANDRIA, Va. � Beasley Broadcast Group continues to rejigger itself after the acquisition of Greater Media. It is selling its cluster of radio stations in the Greenville-New Bern-Jacksonville, N.C. market to CMG Coastal Carolina for $11 million. CMG Coastal Carolina is part of North Carolina-based�Curtis Media Group.
The action is described as a �de-leveraging transaction.� The stations involved are WNCT(AM/FM), WSFL(FM), WIKS(FM), WMGV(FM) and WXNR(FM). A release added that WNCT(FM) will then be spun off to Inner Banks Media LLC.
Michael Bergner of�Bergner and Company�was the broker.
In other sales news, Convergent Broadcasting plans to sell its KKPN(FM), KPUS(FM) and KAJE(FM) in Corpus Christi, Texas, to Texas-based ICA Radio Ltd. ICA has station in the Midland-Odessa, Texas, market.
Kalil & Co.�was the broker. Earlier in the month Kalil & Co. announced that Artistic Media Partners sold its WCYM(FM), WBPE(FM), WAZY(FM) and WSHY(FM) in Lafayette, Ind., to Lafayette TV LLC for $2.3 million.
In addition, Kalil & Co. also brokered the sale of several�Red Rock Radio Corp.�stations in Minnesota to�Midwest Communications. The stations involved were KQDS(FM), Duluth, WEVE(FM) Eveleth, KGPZ(FM) Coleraine, WXXZ(FM) Grand Marais, KAOD(FM) Babbitt, and translators W252AN, Hibbing, W288AI, Ely, and W221AU, Virginia.
Lastly, Kalil & Co. shepherded the sale of KMFG(FM), Nashwauk, Minn., by Midwest Communications to Minnesota nonprofit Refuge Media Group.
As always, such transactions are not final until FCC approval.
A version of this story originally appeared on the website of Radio magazine sister publication Radio Word.