Forever Media has moved ahead with another radio station sale that sees Draper Media, the radio and TV station ownership group serving the Delmarva Peninsula and a swath of the I-95 corridor between Philadelphia and Baltimore, end up as the new licensee.
With President Lynn Deppen signing off on the sale and David Oxenford of Wilkinson Barker Knauer serving as legal counsel for Forever Media’s “FM Radio Licenses LLC,” the following properties are poised to end up in the Draper stable:
| Call Sign | Facility ID | File Number | Service | City, State |
|---|---|---|---|---|
| WAFL | 53482 | 0000300839 | FM | MILFORD, DE |
| WAVD | 53490 | 0000300840 | FM | OCEAN PINES, MD |
| WNCL | 53483 | 0000300841 | AM | MILFORD, DE |
| W271CX | 151295 | 0000300842 | FX | MILFORD, DE |
| WXDE | 53487 | 0000300843 | FM | LEWES, DE |
| WCHK-FM | 58763 | 0000300844 | FM | MILFORD, DE |
Also listed on the Asset Purchase Agreement is W238DJ in Milford, Del.
A $2.5 million purchase price was agreed upon by the parties. A 10% earnest money deposit has been made to Forever, which used Michael J. Bergner of Bergner & Co. as its broker of record.
Serving as Draper’s legal counsel is Jason Rademacher of Cooley LLP.
For those who wonder how Draper Media will be able to own eight FM radio stations in the Salisbury-Ocean City, Md., market, a waiver request has been submitted to the Commission. The company’s argument? Milford is in Delaware, and these stations are outside of the Maryland-defined market when it comes to revenue generation.
Should the FCC say yes, these properties will join properties sold by Forever to Draper in Easton and Havre de Grace, Md., (including Country WXCY-FM) and in Wilmington, Del.
Forever’s remaining stations are located in Western Maryland; in Western Pennsylvania; and in the York-Hanover, Pa., market to the northwest of Baltimore.