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

JVC Media to purchase Asterisk Communications' Florida Radio Group

JVC Media, the leading independent, locally owned radio broadcaster on Long Island, has entered into an agreement to buy Asterisk Communication’s five Florida FM  radio stations, WTRS, WMFQ, WXJZ, WBXY and WYGC.  JVC owns 4 FM radio stations on Long Island, WPTY, WBON, WJVC, WRCN and operates Long Island Events, which manages the 7,000 seat outdoor entertainment venue known as the Pennysaver Amphitheater.  JVC was formed by broadcasting veterans John Caracciolo and Victor Canales and is backed by Northwood Ventures. 

102.3 WTRS is a heritage Country station serving the Gainesville/Ocala Florida market with a legendary track record of success and community involvement.  Hot AC WMFQ, Q92 serves North Central Florida as one of the top rated music stations in the area thanks to its great signal and award winning staff. WXJZ is a unique FM station serving the Gainesville area with a smooth FM music mix format that has developed a deeply devoted following. WBXY and WYGC, both Gainesville FM stations make up the rest of this market dominating cluster.

JVC Media has been in a rapid growth mode, recently expanding on Long Island with its entertainment and broadcast division adding jobs and staff and working hard to make radio local and community friendly once again.

JVC Media CEO, John Caracciolo said, “We are honored and privileged to welcome these top performing radio stations into the JVC family. The prior owner of these stations was committed to community service, high quality broadcasting and creating an excellent work environment for its staff, and we are proud to be able to continue the tradition that Asterisk started in this great market”.

JVC Media VP, COO Victor Canales added, “We love this radio market, and we are excited to continue the trend of fun, local radio in North Central Florida”.  “We plan on adding staff in Florida and New York and to make a big splash with marketing and programming when we begin operating the stations”, he added.

I represented the seller, Asterisk Communications.  Congratulations to John and Fred on a great transaction!

George
Media Services Group