Armada Media is buying back a group of radio stations in Marinette-Menominee that it sold a dozen years ago.
The buyer and seller share a common shareholder, Chris Bernier, who is General Manager of the stations being sold and CEO of the buyer.
An asset purchase agreement filed with the FCC on Nov. 1 calls for Armada’s AMC Partners Escanaba LLC to pay Radio Plus Bay Cities LLC $1.5 million for five stations and two FM translators. The sale price includes cancellation of a $100,000 debt that the seller owes the buyer.
The stations include “Cat Country 95.1” (WLST Marinette, Wis.), “The Rock 96.3” (WSFQ Peshtigo, Wis.), “Classic Hits 103.7” (WHYB Menominee, Mich.), Sports Talker WMAM/570 (Marinette), WMAM translator W283DD/104.5 (Marinette), News/Talker WAGN/1340 (Menominee), and WAGN translator W261DM/100.1 (Menominee).
Radio Plus Bay Cities LLC is owned by Chris Bernier (66%) and his brother Adam Bernier (33%). The company purchased the stations from Armada Media-Menominee, Inc. in 2013.
Chris Bernier also owns 23.72% of AMC Partners LLC, which is the majority owner of AMC Partners Escanaba LLC. Other owners of AMC Partners LLC include Robert Bourke (27.85%), Shockley Broadcasting LLC (19.59%), Elroy X LLC (9.23%), and Thompson Family Investments LLC (8.25%). Terry Shockley serves as its president.
AMC Partners LLC owns 87.04% equity in AMC Partners Escanaba LLC. The other owners of AMC Partners Escanaba LLC are Jesse Huff (6.73%), Chris Bernier (3.92%), and Jayson Rains (2.31%). AMC Partners LLC has 100% of the votes in AMC Partners Escanaba LLC.
The buyer owns 15 stations elsewhere in Michigan’s Upper Peninsula that do business as the Radio Results Network. The shareholders of AMC Partners LLC also have interests in companies that own 15 stations under the Armada Media banner in Wisconsin, Nebraska, Kansas, and Colorado.