SYRACUSE — The pricetag on the sale of Buckley Radio’s three-station Syracuse cluster to James V. Johnson’s Leatherstocking Media Group was revealed today. In documents filed with the FCC, the purchase price is listed as $2.1 million.
According to the document (page 5 of this 21-page PDF file), Leatherstocking already put $105,000 into an escrow account toward the total price. The rest is payable upon the closing of the sale, which is expected whenever the FCC approves of the deal.
Regardless of how long the FCC takes to review the deal (we aren’t legal experts, but we haven’t seen any obvious roadblocks), Leatherstocking will be in control of the three stations very soon. As we reported previously, a temporary LMA goes into effect September 1st.