UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) | May 9, 2006 | |
REGENT COMMUNICATIONS, INC.
Delaware
0-15392 | 31-1492857 | |
(Commission File Number) | (IRS Employer Identification No.) |
2000 Fifth Third Center 511 Walnut Street, Cincinnati, Ohio | 45202 | |
(Address of Principal Executive Offices) | (Zip Code) |
(513) 651-1190
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (seeGeneral Instruction A.2. below):
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section 8 – Other events
Item 8.01 Other events.
On May 9, 2006, the Company entered into two transactions in its Peoria, Illinois market, whereby Regent will sell three radio stations and purchase two radio stations. Under the terms of the sale transaction, Regent will sell substantially all of the broadcasting and intangible assets of WIXO-FM, WVEL-FM and WPIA-FM to Independence Media of Illinois, LLC, for $2.8 million, consisting of approximately $1.9 million in cash and a note receivable of approximately $0.9 million. Concurrently, Regent will purchase substantially all of the broadcasting and intangible assets of WZPW-FM and WXMP-FM from AAA Entertainment LLC and related entities for $12.5 million in cash. Regent has placed $625,000 in escrow to secure its obligation under the asset purchase agreement. The completion of each transaction is contingent upon the closing of both transactions, as well as routine regulatory approvals. The Company expects to consummate the transactions during the second half of 2006.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, Regent Communications, Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 19, 2006 | REGENT COMMUNICATIONS, INC. | |||
By: | /s/ ANTHONY A. VASCONCELLOS | |||
Anthony A. Vasconcellos, Executive Vice President and Chief Financial Officer | ||||
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