August 2011
WP Outdoor provided a $350,000 term loan and a $100,000 revolving line of credit to a New Jersey based outdoor media company. The term loan funds went for the purchase of existing outdoor advertising assets in both New York and New Jersey, which blends well with their existing structure.
August 2011
Westburg Broadcasting Alabama closed on the purchase of a small market radio group consisting of two FM and one AM for $850,000. The assets were purchased from a borrower in satisfaction of their debt. The stations serve the Demopolis, Alabama market, and the new ownership will be focused on improving the quality of the radio signals and strengthening operations as they serve this thriving Alabama community.
August 2011
WP Pennsylvania closed the sale of the radio station assets of WWII-AM in Shiremanstown, PA to Holy Family Radio, LLC for $500,000. WP Pennsylvania, LLC acquired the assets of WWII-AM from Hensley Broadcasting, Inc in November 2010 via a UCC Article 9 sale. “I am delighted to announce the sale,” said WP Pennsylvania partner Dave Westburg, “because it allows us to recover our investment in full over the next five years.” WP Media Lending, LLC provided $400,000 in financing to Holy Family Radio, LLC to enable the non-profit company to purchase the radio station assets of WWII-AM in Shiremanstown, PA. Holy Family Radio will broadcast Eternal Word Network as the only Catholic radio station in the Harrisburg/Lancaster/York markets.
June 2011
Westburg Broadcasting Montgomery, LLC acquired the assets of radio station WACQ-AM in Tallassee, AL from Hughey Communications in satisfaction of debt.
June 2011
WP Outdoor provided $500,000 in financing to a midwest outdoor advertising company to construct additional signs.
April 2011
WP Media Lending provided an $80,000 term loan to a New Orleans broadcaster to purchase an FM translator. The purchase gives the broadcaster a quality FM signal to supplement an AM signal in New Orleans.
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