In November 2016, an individual who spent two decades at Entercom acquired a Buffalo AM and its first FM translator for $655,000. In the 8 1/2 years since that transaction was agreed to, WECK has become one of the America’s top AM radio stations offering a non-religious music format.
Now, Buddy Shula is adding a second Western New York AM to his Radio One Buffalo.
Shula, whose legal name is William Ostrander, has confirmed that his company will acquire Class B WHLD-AM 1270 from Cumulus Media.
Licensed to Niagara Falls, WHLD is presently branded as “Talk 1270” and is the home in the Buffalo DMA to many Westwood One-syndicated programs under the Cumulus banner.
With Mark Lipp at Fletcher, Heald & Hildreth serving as Cumulus’ legal counsel and Stephen Lovelady of Shainis & Peltzman acting as Shula’s legal representative, terms were finalized on Thursday (5/8) and paperwork was submitted to the FCC for its regulatory approval on Friday.
A $150,000 purchase price has been agreed to, with a $50,000 deposit placed into escrow.
Serving as Cumulus’ broker of record is Beth Griffin of Griffin Media Brokers.
WHLD uses a five-tower array for 5kw during daylight hours and 1kw at night, using a directional two-pattern signal. This puts a signal over Niagara Falls and Buffalo in addition to St. Catharines, Ont., and much of the Greater Toronto Area.
“This is a great addition to ‘Buffalo’s Oldies Station, The BIG WECK,’ and will give us
more opportunity to touch the lives of our listeners and local communities” Shula said
in prepared comments. “This acquisition is going to change the radio landscape in Niagara Falls, Buffalo, and all areas in between, just like our purchase of WECK-AM did 8 years
ago”.
The companies have entered into a Local Marketing Agreement that allows Radio One Buffalo to begin operating WHLD on June 1, pending the FCC’s approval.
It is unknown as to what Shula’s plans are for WHLD, which has been in the Cumulus family since September 2011. It was previously a Citadel station, purchased in 1999. WHLD had a 0.5 share of all radio listeners in the most recent Nielsen Audio ratings report for Buffalo-Niagara Falls.
Meanwhile, in related news, Cumulus Media’s stock value on Tuesday (5/6) closed at 10 cents, marking a new post-bankruptcy low for the issue. It was valued at $0.13 heading into late Friday.
