Garabedian Sells Cape Cod To Chessare
• A contract has been signed and an application is being filed with the FCC for the transfer of the following Cape Cod radio stations and translators: 93.5 WFRQ-FM/Harwich Port, MA; 101.1 WHYA-FM/Mashpee, MA; 102.9 WPXC-FM/Hyannis, MA; 101.5 WKFY-FM/East Harwich, MA; and translators W278DW (103.5)/Vineyard Haven; W263CU (100.5) and W234DP (94.7)/Hyannis, from CodComm, Inc. to Coxswain Communications, Inc. for $3,200,000.
The Seller, CodComm, Inc., is a Massachusetts-based company headed by John Garabedian (left), who will now be focusing his full attention on the growth of Jamchannel, LC, producer of the nationally-syndicated Top 40 night-time show, Party Liveline.
This sale marks the first acquisition by Coxswain Communications, Inc., a Massachusetts-based company headed by veteran broadcast executive Steve Chessare (right), whose lengthy management history includes his most recent stint as Market President & Chief Revenue Officer for Townsquare’s Princeton, NJ cluster. Chessare also served as VP/Market Manager of Cumulus AC WEBE 108 and News-Talk WICC-AM/Bridgeport, CT, VP/Market Manager for Greater Media Detroit, SVP of Sales for Westwood One, GSM for WLTW/New York and VP/GM of CBS Radio Sales.
Chessare remarked, “We are extremely honored to join this great group of professionals who have made these brands such a huge part of life on Cape Cod and the Islands. We are excited to continue to engage with and support the communities that make up this uniquely beautiful part of New England and America.” KALIL & CO., INC. was the exclusive broker for this transaction.
