Seven Up:
Seven Mountains Media is acquiring 34 stations and 12 translators across seven Pennsylvania markets from Forever Media in a deal value at $17.375 million, including assumption of $1.7m in debt. Seven Country stations are included: WFGY/Altoona, WYLE/Franklin, WGYI/Franklin, WFGI/Johnstown, WFVY/Lebanon, WGYY/Meadville and WFGE/State College. To stay within ownership limits, five stations in State College, including Classic Country WLEJ, will be spun off to the newly-formed Covenant Communications, which is owned by Seven Mountains COO Jim Loftus. Seven Mountains is owned by Kristin Cantrell, whose father Kerby Confer is President of Forever. According to the FCC filing, employees of the affected Forever stations will be terminated upon closing, scheduled for Jan. 1, with Seven Mountains then making offers of at-will employment to employees of its choosing. Forever will retain its clusters in Wilmington, DE; Cumberland, MD; Salisbury, MD; Lancaster/York, PA; and Pittsburgh, the latter of which includes the "Froggy" simulcast of WOGG, WOGH & WOGI. See the complete filing here.
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