Free Lance-Star Radio Cluster Sold
Alpha Media has agreed to purchase the Free Lance-Star’s four-station radio cluster that’s been operated by Sandton Capital Partners since the bankruptcy court auction in May 2014.
The stations are “New Country 93.3” WFLS-FM, rhythmic CHR “99.3 The Vibe” WVBX, classic rock “96.9 The Rock” WWUZ and talk/sports WNTX (1350).
“Employees were informed of the long-rumored sale on Friday and Alpha chairman Larry Wilson tells Inside Radio he’s especially excited to acquire the market’s top-rated WFLS-FM,” Inside Radio reported. Mr. Wilson was not available for additional comment, and financial terms of the sale were not yet available.
Sandton Capital Partners announced in December 2014 it would sell the four Fredericksburg stations to comply with a Federal Communications Commission (FCC) ruling.
In a November 26 letter, the FCC informed Sandton it had one year to comply with the newspaper/broadcast cross-ownership restriction (NBCO ) by divesting itself of the Free Lance-Star or radio stations. Sandton principal Rob Orr told staff in an email, reported December 3 on fredericksburg.com, the company had decided to keep the newspaper and sell the radio assets.
Alpha Media, formed in August 2009 by Larry Wilson and Endeavour Capital, is based in Portland, Oregon. The company owns 68 radio stations, including a cluster in Richmond, Va.
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