Beasley Selling WJBR/Wilmington

• Beasley Media Group announced that it has executed an asset purchase agreement with Wisconsin-based noncommercial religious broadcaster VCY America to sell heritage AC WJBR-FM (Mix 99.5)/Wilmington, DE for $5 million. [Ed. note: Beasley originally bought WJBR from NextMedia in Feb. 2007 for a reported $42 million].

Under the terms of the deal, Beasley will retain all cash flow from its digital accounts that are sold locally, and all cash flow generated at the station by leveraging the company’s Philadelphia sales operations.

In a statement, Beasley CEO Caroline Beasley said, “We are very pleased with the transaction as it is both accretive and deleveraging for the Company in as much as we are able to retain the cash flow from the station within the Company and will have an opportunity to reduce debt from the proceeds of the transaction.” The deal is expected to close before the end of 2023.

• So far there’s been no word on whether Beasley has plans to move the format, staff or intellectual property to another frequency. Stay tuned.