2009 Non Commercial FM Sales ($1 million or higher)

After taking a look at significant 2009 sales of commercial FM stations, I thought it might be interesting to look at the non commercial FM deals. I queried our BIA database for all 2009 transactions of non commercial FM stations with a sale price equal to or greater than $1 million. Here's what turned up:

1. Market: Dallas-Ft. Worth, TX
Market Rank: 5
Sale Announced: 06/09
Calls: KKXT
Buyer: North Texas Public Broadcasting Inc.
Seller: Covenant Educational Media Inc.
Price: $18,000,000
Pop Count (60 dBu): 4,974,764
Cost per Pop: $3.62

2. Market: Pittsburgh, PA
Market Rank: 25
Sale Announced: 05/09
Calls: WAOB-FM
Buyer: Saint Joseph Missions
Seller: Sheridan Broadcasting Corp.
Price: $8,900,000
Pop Count: 2,132,539
Cost per Pop: $4.17 (this assumes no value for the AM properties)
Comments: Sale includes two AM properties, WAMO and WPGR

3. Market: Cape Charles (Norfolk), VA
Market Rank: 43 (Norfolk)
Sale Announced: 09/09
Calls: WAZP
Buyer: Educational Media Foundation
Seller: Delmarva Educational Association
Price: $4,000,000
Pop Count: 440,842
Cost per Pop: $9.07

4. Market: Toledo, OH
Market Rank: 92
Sale Announced: 01/09
Calls: WNKL
Buyer: Educational Media Foundation
Seller: Cornerstone Church Inc.
Price: $2,825,000
Pop Count: 354,869
Cost per Pop: $7.96 (This assumes no value for the AM property)
Comments: Sale includes WNWT-AM

5. Market: Rockford, IL
Market Rank: 149
Sale Announced: 05/09
Calls: WGSL/WQFL
Buyer: Educational Media Foundation
Seller: First Assembly of God Church
Price: $2,000,000
Pop Count (WGSL): 408,712
Pop Count (WQFL): 368,686
Cost per Pop: $2.57

6. Market: Oxnard-Ventura, CA
Market Rank: 118
Sale Announced: 01/09
Calls: KLFH
Buyer: Logos Broadcasting Corp.
Seller: Shepherd Communications Inc.
Price: $1,350,000
Pop Count: 346,992
Cost per Pop: $3.89

7. Market: Raleigh-Durham, NC
Market Rank: 42
Sale Announced: 10/09
Calls: WAJC-FM/WGPS-FM/WJIJ-FM/WPGT-FM and W214BJ (translator)
Buyer: Liberty University Inc.
Seller: Calvary Chapel of Cost Mesa
Price: $1,250,000
Pop Count (WAJC): 45,043
Pop Count (WGPS): 103,995
Pop Count (WJIJ): 16,566
Pop Count (WPGT): 37,330
Cost per Pop: $6.16
Comments: I ignored the translator for purposes of determining the Cost per Pop.

8. Market: San Luis Obispo, CA
Market Rank: 170
Sale Announced: 02/09
Calls: KESC
Buyer: University of Southern California
Seller: Lazer Broadcasting Corp.
Price: $1,200,000
Pop Count: 181,645
Cost per Pop: $6.61

9. Market: Ft. Wayne, IN
Market Rank: 108
Sale Announced: 07/09
Calls: WLAB
Buyer: Star Educational Media Network Inc.
Seller: Indiana District - Lutheran Church MS
Price: $1,000,000
Pop Count: 349,388
Cost per Pop: $2.86 (ignores coverage of translators)
Comments: Includes two translators.

10. Market: Wilkes Barre-Scranton, PA
Market Rank: 70
Sale Announced: 06/09
Calls: WCIG
Buyer: Family Life Ministries
Seller: GEOS Communications
Price: $1,000,000 (plus Buyer assigns two translators to Seller)
Pop Count: 431,812
Cost per Pop: $2.42

George

Media Services Group