Tuesday, January 21, 2014

JVC expands into Gainesville-Ocala, FL

JVC Media/JVC Broadcasting has expanded with JVC Media of Florida’s announcement to purchase a Gainesville/Ocala, FL cluster from Asterisk Communications. JVC has been operating the stations in an LMA since May. 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) 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.

Ocala
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’

Gainesville
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’

I was pleased to represent the seller, Asterisk Communications in the transaction.  Congratulations to Fred Ingham, John Caracciolo, Paul Homer, Ricardo Arroyo, and Victor Canales on the deal.

*Pending FCC approval

George
Media Services Group