Richard Heftel’s Heftel Broadcasting has won the bidding for the seven Highway Radio stations. Heftel, son of longtime radio operator Cecil Heftel and former GM of KLVE/KSCA/KTNQ Los Angeles for Hispanic Broadcasting, won the bidding with a $620,000 offer. Educational Media Foundation’s $525,000 offer for just 98.1 KRXV Yermo and 99.7 KHYZ Mountain Pass was considered the backup bid. Following the closing of the transaction, Heftel Broadcasting will own a controlling 67.7 percent stake in the stations while John Hearne’s Point Broadcasting will retain their 32.3 percent share. Heftel began operating the stations via Time Brokerage Agreement earlier this month. Original Report 3/8: Seven stations in the California desert on the route between Los Angeles and Las Vegas are b...Read More
Station Sales Red Zebra Broadcasting continues its sell-off with the divestment of “Sportstalk 570” WSPZ Bethesda MD/Washington DC to Edward Atsinger and Stu Epperson’s AM 570 LLC for $2.1 million. While being purchased by the CEO and two directors of Salem Media, the station will not be owned directly by the company. High Plains Radio Network purchases James Moser’s Palo Pinto Communications’ four stations in Breckenridge and Graham TX for $300,000. The stations involved are News/Talk 1430 KROO Breckenridge/1330 KSWA Graham, Country “93.5 K-Lakes” KLXK Breckenridge, and Classic Hits “Q94.7” KWKQ Graham. William Pollack acquires Talk 1590 WCGO Evanston/Chicago IL for $3 million. Pollack owns Talk/Shopping 1280 WBIG Aurora and 1410 WRMN ...Read More
The stations that made news last summer for terminating its staff by changing its locks and charging the employees with trespassing have been sold to Paul Coates and former Arkansas Governor Mike Huckabee. Coates and Huckabee’s East Texas Results Group will purchase the former CHR “Breeze-FM” 95.3 KFRO-FM Gilmer/102.3 KLJT Jacksonville and Regional Mexican “Kompa-FM” 94.3 KZXM Bullard/103.1 KMPA Pittsburg TX in the Tyler/Longview market from the estate of Dudley Waller for $1.2 million. The buyers currently operate four stations in the Pine Bluff AR market. The buyers will need to enter new transmitter leases for KFRO-FM and KZXM, including paying all back rent owed for the KFRO-FM site at closing.
After selling 92.7 WWXT Prince Frederick MD to Urban One last month, Red Zebra Broadcasting has sold the other FM simulcast of Sports “ESPN 980” WTEM Washington DC to Educational Media Foundation. EMF will pay $250,000 for 94.3 WWXX Buckland VA, which serves the western suburbs of Washington in Northern Virginia, and flip it to its Christian AC “K-Love” network and non-commercial status. Following the sale of WWXX and its previous sale of WWXT and 950 WXGI Richmond to Urban One, Red Zebra will only retain 980 WTEM and “Sportstalk 570” WSPZ Bethesda MD.
The FCC filing reveals that Dirk Nadon’s Lakes Media LLC. will pay $2.6 million for the three Great Eastern Radio stations in the New Hampshire’s Lakes Region. Original Report 5/12: Great Eastern Radio has announced the sale of Sports 101.5 WZEI Meredith, Classic Rock “104.9 The Hawk” WLKZ Wolfeboro, and News/Talk “107.7 The Pulse” WTPL Hillsboro NH to Dirk Nadon’s Lakes Media LLC. Nadon currently serves as VP/Engineering for Binnie Media, which owns a competing cluster in the Lakes Region of New Hampshire. He co-founded one of the stations in the deal, 101.5 WZEI as WMRQ in 1988 until selling it in 1994. Nadon has also served as OM for Curt Gowdy’s 93.7 WCGY Boston in on-air and programming roles at many New England stations. No terms of the...Read More
Robert and Tor Ingstad are breaking up their Last Frontier Mediactive group in Fairbanks AK. Tor Ingstad Licenses will pay $361,390 to acquire Sports “ESPN 820” KCBF, Country “Wild 94.3” KWDD, and CHR “K-Wolf 98.1” KWLF Fairbanks. Tor will also purchase Classic Country “93.5 Chet-FM” KDJF Ester from Tanana Valley Radio for $275,000. Tor Ingstad owns 50% of Basin Mediactive’s cluster in Klamath Falls OR and nineteen stations in Iowa and Minnesota under the names Ingstad Brothers Broadcasting and Iowa City Broadcasting. Rob Ingstad Licenses will receive News/Talk 660 KFAR, Rock “X-Rock 95.9” KXLR Fairbanks, and Variety Hits “103.9 Ted-FM” KTDZ College for the same $361,390 price. Rob will also add Tanana Valley Rad...Read More
In a series of deals announced today Saga Communications will sell its television assets to Morgan Murphy Media for $66.6 million, assign its options for other stations to SagamoreHill Broadcasting, and purchase Apex Media’s radio assets in Charleston and Hilton Head SC for $23 million. In the first two deals, Saga will sell KOAM-TV Joplin MO and KAVU Victoria TX to Morgan Murphy Media while its options to acquire Surtsey Media’s KFJX Joplin and KVCT Victoria to SagamoreHill Broadcasting, which Saga operates. The deals will mark Saga’s exit from television ownership Saga will then acquire Apex Broadcasting’s radio operations in Charleston and Hilton Head SC. The stations involved in that deal are: Charleston – Country “Kickin 92.5” WCKN, Hot AC ...Read More
Emmis Communications has agreed to sell Urban “Power 106” 105.9 KPWR Los Angeles to an affiliate of the Meruelo Group for $82.75 million. Meruelo owns Classic Hip-Hop 93.5 KDAY Rendondo Beach and Rhythmic CHR “Wild 93.5” KDEY-FM Ontario. The company recently netted $123.5 million in the FCC TV spectrum auction to move KWHY-TV to a VHF channel. It is also acquiring the license to KBEH Oxnard for $10 million which will channel share with KWHY following the TV repack. Emmis announced last month a deal with its lenders to seek $80 million worth of divestments by January 2018 to amend its credit agreement. The sale of KPWR will achieve that goal. Following closing of the sale, Emmis will retain its 18 stations in New York, St. Louis, Indianapolis, and Austin. Emmis had p...Read More
Translator Sales Hubbard Broadcasting is purchasing 92.7 K224CJ Phoenix AZ from Happy Dog Communications for $1.8 million. Should the deal close it will set a record for highest price for a single translator as Elroy Smith’s $4.6 million deal for a Chicago translator and Big Apple Broadcasting’s $3.5 million deal in New York both collapsed prior to closing. Hubbard already operates K224CJ as “Oldies 92.7” rebroadcasting 1440 KAZG Scottsdale via 93.3 KDKB-HD2 Mesa. Jaemin and Hyunjoo Chang purchase 95.3 K237FL Woodlake CA from Rudex Broadcasting for $150,000. K237FL holds a CP to relocate to 106.3 in Los Angeles where it will rebroadcast HK Media Korean “Radio Seoul 1650” KFOX Torrence. SummitMedia is swapping 102.1 W271BN Birmingham AL to Educational Med...Read More
Station Sales WGUL-FM Inc. acquires Classic Hits “Fun 102.7” WRGO Cedar Key FL from WRGO Radio LLC for $220,000. The buyer also owns Hot AC “Citrus 95.3” WXCV Homosassas Springs, Classic Hits “96.7 The Fox” WXOF Yankeetown, and Oldies “Greatest Hits 106” 106.3 WGHR Spring Hill FL. Leatherstocking Media Group sells Silent 1390 WFBL Syracuse NY to Wolf Radio Inc. for $275,000. As part of the deal Leatherstocking agrees to file for a translator at Wolf’s request and change the call letters of 1050 WSEN Baldwinsville to eliminate confusion with 103.9 WSEN-FM Mexico. University of Northwestern-St. Paul expands to Bismarck with the purchase of 89.1 KLBF Lincoln ND for $50,000. KLBF will rebroadcast Christian Preaching “Faith Radio”...Read More
Newcap Media has announced it will sell Soft AC 650 CISL Vancouver BC to Rogers Media for an undisclosed amount. The purchase of CISL gives Rogers Media a home for the NHL’s Vancouver Canucks. Rogers had announced in March that it will takeover the radio broadcasts of the franchise next year from Bell Media Sports “Team 1040” CKST. The purchase gives Rogers a fourth station in Vancouver joining “News 1130” CKWX, Variety Hits “Jack 96.9” CJAX, and CHR “Kiss Radio” 104.9 CKKS-2. Upon closing of the deal, Rogers will flip CISL to Sports as “Sportsnet 650“. In addition to the Canucks, CISL will also carry Toronto Blue Jays baseball. Newfoundland Capital Corporation (“Newcap” or the “Company”) announced to...Read More
Station Sales Kansas’ Rocking M Media is expanding to California with the purchase of Talk 1490 KMET Banning and 99.7 K259BJ El Centro. However the sale price was omitted from the submitted contract. Hog Radio LLC purchases AC “Variety 106.5” KBVA Bella Vista/Fayetteville AR from Hendren Communications for $1.15 million. Pure Word Broadcasting acquires Southern Gospel 104.1 KMHM Lutesville MO from Southern Gospetality LLC for $200,000 to pair with Christian AC 89.9 KHIS Jackson MO. South Carolina State University will acquire Silent 1580 WPJK Orangeburg SC from Ermma Barton Gowdy for the $6500 the station owes to the FCC for outstanding filing fees. WPJK will relocate to a new tower site on the University’s campus. Translator Sales After selling 99.7 KBXD Amarillo a...Read More