Magic Broadcasting
Magic Broadcasting, LLC is a company which owned and operated five radio stations in Alabama and two in California.
History
Magic Broadcasting, LLC, formerly Styles Media Group, LLC, was founded in 1989. The name was changed to Magic Broadcasting in June 2006. The company is based in Panama City, Florida. Magic Broadcasting's Chairman and Chief Executive Officer was Don McCoy.[1] The company sold off all of its radio stations in a series of transactions in 2010 and 2011.
The transactions involving the purchase and sale of KDEY and KDAY are widely regarded in the broadcast industry as the biggest sale loss ever incurred in radio. The deal lost Magic Broadcasting $101,000,000, as the 2 class A FM signals were purchased at $120,000,000 and sold for $19,000,000 a short time later. This has led to a great deal of embitterment among former investors in and around Panama City toward deal mastermind Don McCoy and his current radio company, Magic Broadcasting II, LLC.
Former stations
Dothan, Alabama
- WTVY-FM ("95.5 WTVY") (sale to Gulf South Communications, Inc., consummated on November 30, 2011)
- WLDA ("Star 100.5") (sale to Southeast Alabama Broadcasters, LLC, consummated on November 30, 2011)
- WKMX ("106.7 KMX") (sale to Gulf South Communications, Inc., consummated on November 30, 2011)
- WJRL-FM ("Rock 104") (sale to Southeast Alabama Broadcasters, LLC, consummated on November 30, 2011)
- WBBK-FM ("Magic 93.1") (sale to Alabama Media Investments, LLC, consummated on November 30, 2011)
Southern California
- KDAY ("KDAY 93.5") (sale to SoCal935 LLC approved by FCC on December 8, 2011)[2]
- KDEY-FM ("KDAY 93.5") (sale to SoCal935 LLC approved by FCC on December 8, 2011)[3]
References
- ↑ "Information about Magic Broadcasting, LLC on investing.businessweek.com".
- ↑ "Application Search Details (BALH-20101223ACF)". FCC Media Bureau. December 8, 2011. Retrieved December 23, 2011.
- ↑ "Application Search Details (BALH-20101223ACG)". FCC Media Bureau. December 8, 2011. Retrieved December 23, 2011.