King to purchase stations from Weavers

Jay County’s radio station will have a new owner.

Rob and Mindy Weaver are in the process of selling their Jay and Adams County radio stations to Mark King, Rob Weaver confirmed Friday.

Radio Insight first reported the sale, and WPGW Radio has also began broadcasting notice as required under Federal Communications Commission rules.

King, a Portland resident, will purchase the Jay County stations (WPGW 100.9 FM and 1440 AM as well as 105.3 FM) for $996,873.40 from the Weavers and the non-commercial WZJR 91.7 for $55,740.54 from the couple and their son Kyle, Radio Insight reported. He will also purchase WZBD 92.7 FM in Adams County from the Weavers for $343,905.69.

A stock sale filed by King in late January indicates he will pay a total of $110,000 at closing with the remaining balance to be financed by the Weavers.

For additional details about the sale, see The Commercial Review next week.