WPFM Sale To EMF Closes

• The sale of Top 40 WPFM-FM (Hot 107.9)/Panama City, FL from Powell Broadcasting, LLC to Educational Media Foundation (EMF) has officially closed. Powell Broadcasting, LLC, is a wholly owned subsidiary of The Powell Group and owns radio stations in Panama City, Florida and Sioux City, IA.

On Oct. 14, Powell announced it was ceasing all broadcast operations in the Panama City market, citing the catastrophic damage caused by Hurricane Michael.

The Buyer, Educational Media Foundation, is a not-for-profit organization based in Rocklin, CA. WPFM-FM operates at 107.9, with 54 kW at 1,266’ HAAT.

Kalil & Co., Inc. was the exclusive broker for this transaction.