AECC Sells WHGG & WABN To Kenneth C. Hill's ICC For $250,000: Only $1,000 Cash Down!
Broadcasting & Cable
Changing Hands
By BIA Financial Networks -- Broadcasting & Cable, 1/26/2004
WABN(AM) Abingdon (Johnson City-Kingsport-Bristol), Va.
PRICE: $50,000
BUYER: Appalachian Educational Communication Corp. (Kenneth C. Hill, president);
owns five other stations, including WHGG(AM), WPWT(AM) and WHCB-FM Johnson City-Kingsport-Bristol, Tenn.
SELLER: Abingdon Church of the Nazarene (Dickie Kegley, director)
FACILITIES: 1230 kHz, 1 kW
FORMAT: Oldies/AC
Broadcasting & Cable
Deals
By BIA Financial Networks -- Broadcasting & Cable, 1/9/2006
WHGG(AM) Kingsport, Tenn., and WABN(AM) Abingdon, Va.
PRICE: $250,000
BUYER: Information Communications Corp. (Kenneth Hill, president/general manager); owns one other station, WPWT(AM) Johnson City-Kingsport-Bristol, Tenn.
SELLER: Appalachian Educational Communication Corp. (Kenneth C. Hill, president/general manager)
FACILITIES: WHGG(AM): 1090 kHz, 10 kW; WABN(AM): 1230 kHz, 1 kW
FORMAT: WHGG(AM): Christian Contemporary; WABN(AM): Oldies
COMMENT: ICC will have the right to rent studio and transmitter/antenna space for WHGG and WABN from AECC at, respectively, $500 and $1,500 per month. AECC is 49% owner and Kenneth Hill 51% owner of ICC.
Broadcasting & Cable
Deals
By BIA Financial Networks -- Broadcasting & Cable, 4/3/2006
WHGG(AM) Kingsport, Tenn., WABN(AM) Abingdon, Va.
PRICE: $250,000
BUYER: Information Communications Corp. (Kenneth Hill, president/general manager);
owns one other station, WPWT(AM) Johnson City-Kingsport-Bristol
SELLER: Appalachian Educational Communication Corp. (Kenneth C. Hill, president/gm)
FACILITIES: WHGG(AM): 1090 kHz, 10 kW; WABN(AM): 1230 kHz, 1 kW
FORMAT: WHGG(AM): Christian Contemporary; WABN(AM): Oldies
Radio Business Report
Volume 22, Issue 210,
Monday October 26th, 2005
Transactions
250K WHGG-AM & WABN-AM Johnson City-Bristol-Kingsport (Kingsport TN, Abingdon VA) from Appalachian Educational Communication Corporation (Guy Tilley, VP) to Information Communications Corporation (Kenneth C. Hill, pres). 1K deposit, 249K note. Buyer and seller are noncommercial. [File date 9/28/05.]
Changing Hands
By BIA Financial Networks -- Broadcasting & Cable, 1/26/2004
WABN(AM) Abingdon (Johnson City-Kingsport-Bristol), Va.
PRICE: $50,000
BUYER: Appalachian Educational Communication Corp. (Kenneth C. Hill, president);
owns five other stations, including WHGG(AM), WPWT(AM) and WHCB-FM Johnson City-Kingsport-Bristol, Tenn.
SELLER: Abingdon Church of the Nazarene (Dickie Kegley, director)
FACILITIES: 1230 kHz, 1 kW
FORMAT: Oldies/AC
Broadcasting & Cable
Deals
By BIA Financial Networks -- Broadcasting & Cable, 1/9/2006
WHGG(AM) Kingsport, Tenn., and WABN(AM) Abingdon, Va.
PRICE: $250,000
BUYER: Information Communications Corp. (Kenneth Hill, president/general manager); owns one other station, WPWT(AM) Johnson City-Kingsport-Bristol, Tenn.
SELLER: Appalachian Educational Communication Corp. (Kenneth C. Hill, president/general manager)
FACILITIES: WHGG(AM): 1090 kHz, 10 kW; WABN(AM): 1230 kHz, 1 kW
FORMAT: WHGG(AM): Christian Contemporary; WABN(AM): Oldies
COMMENT: ICC will have the right to rent studio and transmitter/antenna space for WHGG and WABN from AECC at, respectively, $500 and $1,500 per month. AECC is 49% owner and Kenneth Hill 51% owner of ICC.
Broadcasting & Cable
Deals
By BIA Financial Networks -- Broadcasting & Cable, 4/3/2006
WHGG(AM) Kingsport, Tenn., WABN(AM) Abingdon, Va.
PRICE: $250,000
BUYER: Information Communications Corp. (Kenneth Hill, president/general manager);
owns one other station, WPWT(AM) Johnson City-Kingsport-Bristol
SELLER: Appalachian Educational Communication Corp. (Kenneth C. Hill, president/gm)
FACILITIES: WHGG(AM): 1090 kHz, 10 kW; WABN(AM): 1230 kHz, 1 kW
FORMAT: WHGG(AM): Christian Contemporary; WABN(AM): Oldies
Radio Business Report
Volume 22, Issue 210,
Monday October 26th, 2005
Transactions
250K WHGG-AM & WABN-AM Johnson City-Bristol-Kingsport (Kingsport TN, Abingdon VA) from Appalachian Educational Communication Corporation (Guy Tilley, VP) to Information Communications Corporation (Kenneth C. Hill, pres). 1K deposit, 249K note. Buyer and seller are noncommercial. [File date 9/28/05.]
Labels: Appalachian Educational Communication Corporation, WHCB Ministry
posted by Elmer Gantry at
6:59 AM
2 Comments:
He made himself an offer he couldn't refuse.
...and increased the 501 (c)(3) tax exempt Appalachian Educational Communication Corporation notes receivable by approximately $122,010 with the stroke of a pen (the actual amount of the note is $249,000, but AECC already "owns" 49% of ICC).
Post a Comment
Subscribe to Post Comments [Atom]
<< Home