News Summary
Jam Media Solutions is nearing the completion of a bankruptcy sale, selling its silent radio station WVOD Manteo to Wright Sound for $20,000. Currently off the air, WVOD previously aired under the branding “99.1 The Sound” and is crucial for reaching popular Outer Banks tourist spots. Lisa Brickhouse Davis, the prospective new owner, has extensive broadcasting experience and requires the station to resume broadcasting by July 2024 to retain its license. This sale showcases the ongoing financial challenges within the media sector.
Manteo, NC – The bankruptcy sale of Jam Media Solutions is nearing completion as the trustee overseeing the proceedings seeks court approval to sell the silent radio station WVOD Manteo (99.1) to Lisa Brickhouse Davis‘s Wright Sound for $20,000. The approval process is underway, with court documents indicating that the sale is being conducted “as is.”
Currently, WVOD has been off the air since July 2024 and previously aired an adult alternative format under the branding “99.1 The Sound.” The station’s broadcast signal reaches popular tourist destinations along North Carolina’s Outer Banks, including Kitty Hawk, Kill Devil Hills, and Nags Head.
Lisa Brickhouse Davis brings over 30 years of experience in voiceover and broadcasting to the table. Notably, Davis served as the afternoon drive personality on WVOD prior to its silence and is known for her role as the publisher of TheOuterBanksLife.com. Although no agreements have been reached to operate the station before the closing of the sale, the contract does allow the possibility for such an option.
According to the Federal Communications Commission (FCC), under a special extension granted to the new owner, WVOD must return to the airwaves by July 10, 2024, or risk losing its broadcasting license. The urgency added by this requirement highlights the importance of timely action for the potential new owner.
WVOD is one of several radio stations involved in the bankruptcy proceedings following Jam Media Solutions’ transition from Chapter 11 to Chapter 7 bankruptcy in October 2023. The Chapter 7 liquidation has left one remaining station, WCMS Hatteras (94.5), still for sale, while currently silent due to structural and equipment repairs needed since March. WCMS was last known as “Big 94.5 FM” and served the Hatteras area.
The bankruptcy trustee, Jeffrey Testa, has successfully negotiated the sale of two other FM stations on the Outer Banks—WCXL (Beach 104.1) and WZPR (Z-92.3)—to Lawrence Loesch’s East Carolina Radio for $70,000. Additionally, East Carolina Radio has secured an auction win for the digital newspaper OBX Today.com with a bid of $19,000.
In a wider context, two Jam Media Group stations in Muscatine, IA were sold to VMPP for $250,000, which involved the classic country station KWPC and its associated FM translator. Jam Media Solutions initially acquired six radio stations and two newspapers for a substantial $1.75 million in 2018, demonstrating a drastic decline in asset value due to bankruptcy and ongoing financial issues.
Ultimately, the sale of WVOD, alongside the other transactions orchestrated by Testa, serves as an indicator of the challenges that media companies face in today’s economic landscape. As the news unfolds, stakeholders will closely monitor the court’s decision regarding the sale and its implications for the future operations of the WVOD station.
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- Insideradio: Former WVOD Personality Buys Station
- Wikipedia: Bankruptcy
- Radio Insight: Davis Media Acquires Jam Media Properties
- Google Search: Jam Media Solutions
- RBR: A Local Media Growth Story Fueled by Jam
- Google Scholar: Jam Media Solutions Bankruptcy
- Radio Insight: Beach 104 Makes Temporary Move to WZPR
- Encyclopedia Britannica: Bankruptcy Liquidation
- RBR: Jam Bankruptcy Testa
- Google News: Jam Media Solutions
- Radio Insight: Jam Media Solutions Goes into Chapter 7 Liquidation
