|
How would you like to be able to purchase radio stations for your own for-profit business valued at one-quarter of a million dollars with only $1,000 down and tithes to Jesus bankrolling with other $249,000?
The Bristol, Tennessee based 501(c)(3) Appalachian Educational Communication Corporation (d.b.a. WHCB 91.5 FM & The Cameo Theatre) sold WHGG & WABN AM radio stations to AECC President Kenneth C. Hill's for-profit Information Communications Corporation for $250,000 with only $1,000 --- that is right, one thousand dollars - cash down - thank you, Je$u$!
Kenneth C. Hill --- radio evangelist and father of Rep. Matthew Hill (Jonesborough)--- was elected in 2006 as the Tennessee Republican State Executive Committeeman, District 2 of both Sullivan County and Johnson County. Rep. Matthew Hill was listed within the 2003 IRS Form 990 "Return of Organization Exempt From Income Tax" filed by Appalachian Educational Communication Corporation as a 40 hour per week AECC "Key Employee" compensated at $36,125 during the AECC 2003 tax year:
Broadcasting & Cable Changing Hands http://broadcastingcable.com/article/CA376545...
By BIA Financial Networks -- Broadcasting & Cable, 1/26/2004 WABN(AM) Abingdon (Johnson City-Kingsport-Bristol), Va. PRICE:$50,000 BUYER: Appalachian Educational Communication Corp.(Kenneth C. Hill, president); owns five other stations, including WHGG(AM), WPWT(AM) and WHCB-FM Johnson City-Kingsport-Bristol, Tenn. SELLER: Abingdon Church of the Nazarene (Dickie Kegley, director) FACILITIES: 1230 kHz, 1 kW FORMAT: Oldies/AC
***
Broadcasting & Cable Deals http://broadcastingcable.com/article/CA629781... By BIA Financial Networks -- Broadcasting & Cable, 1/9/2006 WHGG(AM) Kingsport, Tenn., and WABN(AM) Abingdon, Va. PRICE:$250,000 BUYER: Information Communications Corp.(Kenneth Hill, president/general manager); owns one other station, WPWT(AM) Johnson City-Kingsport-Bristol, Tenn. SELLER: Appalachian Educational Communication Corp.(Kenneth C. Hill, president/general manager) FACILITIES: WHGG(AM): 1090 kHz, 10 kW; WABN(AM): 1230 kHz, 1 kW FORMAT: WHGG(AM): Christian Contemporary; WABN(AM): Oldies COMMENT: ICC will have the right to rent studio and transmitter/antenna space for WHGG and WABN from AECC at, respectively,$500 and $1,500 per month. AECC is 49% owner and Kenneth Hill 51% owner of ICC.
***
Broadcasting & Cable Deals http://broadcastingcable.com/article/CA632119...
By BIA Financial Networks -- Broadcasting & Cable, 4/3/2006 WHGG(AM) Kingsport, Tenn., WABN(AM) Abingdon, Va. PRICE:$250,000 BUYER: Information Communications Corp.(Kenneth Hill, president/general manager); owns one other station, WPWT(AM) Johnson City-Kingsport-Bristol SELLER: Appalachian Educational Communication Corp.(Kenneth C. Hill, president/gm) FACILITIES: WHGG(AM): 1090 kHz, 10 kW; WABN(AM): 1230 kHz, 1 kW FORMAT: WHGG(AM): Christian Contemporary; WABN(AM): Oldies
***
Radio Business Report http://www.rbr.com/epaper/issue210-05-ofd.htm... Volume 22, Issue 210, Monday October 26th, 2005 Transactions 250K WHGG-AM & WABN-AM Johnson City-Bristol-Kingsport (Kingsport TN, Abingdon VA) from Appalachian Educational Communication Corporation (Guy Tilley, VP) to Information Communications Corporation (Kenneth C. Hill, pres). 1K deposit, 249K note. Buyer and seller are noncommercial.
|