Calhoun’s ‘Kickin 94.5 FM’ sold in unique radio deal

Calhoun’s ‘Kickin 94.5 FM’ sold in unique radio deal

Steve Hegwood buys country ‘Kickin’ 94.5′ WIPK in Calhoun for $880,000. That’s the update from a recent posting on Tom Taylor’s exhaustive daily report on the state of radio. We’ll have additional updates later today. Here’s what Taylor had to say:
“Nice return on investment for seller Kenyon (Ken) Payne – his Radio WEBS Inc. won the construction permit for a new class A at Calhoun, Ga., in Auction No. 91, paying $202,000. Now he sells to Steve Hegwood (as Core Communicators) for more than four times that amount. And since Payne didn’t claim the auction’s bidding credit, he doesn’t owe the commission an “unjust enrichment fee.” Payne’s guaranteeing that he’ll pocket some money very soon, asking for a non-refundable $80,000 deposit toward the $880,000 sales price to Hegwood. Steve’s the onetime head of programming for Radio One, and the Oct. 31 NOW told you that he recently committed $270,000 to acquire the construction permit for a new FM down in Albany, Ga. (Background) Now he’s looking the other way, northwest of Atlanta along the I-75 corridor toward Chattanooga. In Atlanta, Hegwood continues to operate his AM-fed translator urban-formatted “Streetz 94.5.” While Ken Payne, the seller of the Calhoun Kickin’, continues to own “Good Times & Great Hits” WEBS at 1030 AM. Payne manages WEBS radio and a local cable channel branded as “WEBS/TV3,” and he rises early as half of the “Yawn Busters Morning Show.”
-More radio updates at Tom Taylor Now
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