Oct 06 2016

WPKV officially to EMF

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.