Island Broadcasting of RI, a Rhode Island limited liability company, is set to acquire two Rhode Island radio stations, 1540 WADK/101.1 W266DI Newport and Mixx 99.3 WMNP, from 3G Broadcasting, a Florida corporation, for $350,000.
The deal, first reported by RadioInsight.com on August 9 & InsideRadio.com on August 8, marks a new chapter for WADK, a station with a rich history dating back to 1948.
According to RadioInsight.com;
Kurt Jackson’s Island Broadcasting of RI purchases Business News/Jazz 1540 WADK/101.1 W266DI Newport and CHR “Mixx 99.3” WMNP Block Island RI from 3G Broadcasting for $350,000.
According to InsideRadio.com;
Providence-Warwick-Pawtucket, RI – Kurt Jackson’s Island Broadcasting has filed a $350,000 deal to buy CHR “Mixx 99.3” WMNP and “News Talk 1540” WADK from 3G Broadcasting. The deal also includes the Newport, RI-licensed translator W266DI AT 101.1 FM which simulcasts WADK. The filing shows the sale includes a $315,000 promissory note.
According to paperwork filed with the FCC on August 5, 3G Broadcasting is the licensee of WADK(AM), FI 48744, Newport, RI, WMNP-FM, FI 71295, Block Island, RI and FM translator W26DI, FI 200512, Newport, RI.
On the other side of the deal, Kurt Jackson, of Paxton, Massachusetts, is the 48% stockholder of Success Signal Broadcasting, Inc., licensee of WARE (AM), FI 70877, Ware, MA; the licensee of FM Translator W249DP, FI 63474, Springfield, MA; 50% member of WATR Radio, LLC, licensee of WATR(AM), FI 71102, Waterbury, CT and FM Translator W249DY, FI 203226, Waterbury, CT; 100 % owner of Hampden Communications Co., licensee of WQVD (AM), FI 51118, Orange-Athol, MA; and 100% member of Quinebaug Valley Broadcasting, LLC, licensee of WQVR (AM), FI 2336, Webster, MA and FM Translator W257EH, FI 201540, Webster, MA.
On Wednesday, August 28, Bonnie Gomes, President of 3G Broadcasting, provided What’sUpNewp with the following statement via email;
For clarification sake now that FCC filing has been announced.
–We have not received FCC approval yet, so the sale is not confirmed.
My intention is to retire, but for the foreseeable future, I will consult the new buyer and existing team , including my son, Matthew Girard.
Matthew has been Head of Programming and the voice of Mixx 99.3 since 3G Broadcasting purchased the stations over 10 years ago and is currently serving on the board of the Greater Newport Chamber of Commerce.
Also, Matthew has been operating the stations as General Manager for close to two years and will continue to manage for Mr. Jackson.
No programming changes are planned and we are all working toward a seamless transition and continued focus on the local community”
What’sUpNewp has also reached out to Kurt Jackson/Island Broadcasting.
The pending acquisition by Kurt Jackson’s Island Broadcasting of RI represents the latest chapter in WADK’s storied history.
The 34-page Asset Purchase Agreement filed with the FCC can be seen here.
