Tom Taylor reported today that WPKV (98.3) will officially go to Educational Media Foundation seven years after the LMA began with Forever. EMF has paid $700,000 to Forever over the 7 years and owes $6 million more to by the signal outright. As a result, Forever will also receive two translators to Forever – 105.5 in Pittsburgh which plays a Froggy simulcast, and one at 96.7 in Springfield, Ohio.
But wait… what about that $6 million? It’s goes to a tax-friendly intermediary as a “1031 exchange” and there may be a deal where the difference between market value of assets and the purchase price becomes a donation to EMF.