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.