Stuart Epperson, Jr. and Davidson Media do some station swapping in North Carolina.

Peter Davidson’s proving himself to be a real dealmaker — doing deals worth $25M in the year since he formed Davidson Media. His latest is a station swap with Stuart Epperson, Jr.’s Truth Broadcasting that will give Peter two more stations in Greensboro.

While Truth gets its first station in Raleigh-Durham. Davidson gains the Winston-Salem simulcast of Spanish Christian WTOB (1380) and WWBG (1470). In exchange Davidson hands off regional Mexican WFTK, Wake Forest (1030) to Epperson — and drafts a check for $1.25M.

But because of the way the deal’s been structured (under Section 1031 of the IRS Code) it’s a like-kind asset exchange and no taxes will be paid to Uncle Sam. One noteworthy clause from the just-filed contract at the FCC — Davidson agrees to keep WTOB and WWBG doing Spanish Christian for one year from the date of closing.

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