4 radio stations being sold

Published 1:59 pm Friday, December 16, 2005

Two former local radio station owners are buying back four Dalton stations from Clear Channel Communications.

Paul Fink and Dalton resident Bert Watts, comprising the North Georgia Radio Group, have signed a letter of intent with Clear Channel to purchase WBLJ-1230 AM (talk radio), WDAL-Z1430 AM (Spanish language), WQMT-99 FM (country) and WYYU-U104 FM (top 40). In 2000, Fink and Watts sold the stations to the San Antonio, Texas-based Clear Channel for $9.3 million. Clear Channel operates approximately 1,200 radio outlets across the country.

Terms of the current deal have not been disclosed.

“We have in fact signed a letter of intent, but that’s the only comment we can make until everything is finalized,” Fink said. “By the terms of our agreement, that’s the extent of the comments we can make.”

Fink said he expects the sale to be completed before the end of the year.

Representatives from Clear Channel did not immediately return phone calls seeking comment, nor did they respond to questions via e-mail.

Fink is also affiliated with Heritage Radio Partners in Chattanooga but said that group is not part of the deal.

Fink and Watts owned the stations for more than 10 years before selling them in September 2000.

Fink said he could not comment on any changes that might be made at the stations. He also declined to say how many workers are employed at the four stations, saying that number should come from Clear Channel. Fink said he would be able to comment more extensively when the sale is completed.

Clear Channel was founded in 1972 and has more than 55,000 employees.