Station Sales Week of 3/30: Matrix Broadcasting Files For Bankruptcy
Matrix Broadcasting is the latest operator to file for Chapter 11 bankruptcy restructuring. Matrix, the owners of Rock “103.9 The Fox” WFXF Dundee and AC “Star 105.5” WZSR Woodstock IL in Chicago’s northwestern suburbs, purchased the two stations from a divestiture trust of Digity Media for $5,527,500 in 2014 following that company’s merger with NextMedia in 2012. Matrix is sole owned by Peter Handy and claims both assets and liabilities between $1 million and $10 million. The stations operate under a Shared Services Agreement with Alpha Media since Alpha acquired Digity in 2015.
Educational Media Foundation makes another purchase with the acquisition of Classic Rock “103.9 The Wolf” KJXJ Franklin/College Station TX from Brazos Valley Communications for $325,000. The seller retains its other four stations in the market.
Foster Charitable Foundation sells Classic Rock “Rev-FM” 94.3 KRVL Kerrville TX to JAM Broadcasting for $250,000 with an LMA that started on March 1. JAM owns Country “103.7 The Buck” KAXA Mountain Home TX, holds a CP for 99.1 KZAH Harper/Kerrville, and operates Talk 1230 KERV from the seller of KRVL via LMA as well.
John Pirkle’s Oak Ridge FM is acquiring Silent 1180 WVLZ Knoxville TN from Kirkland Wireless Broadcasters for $30,000. Oak Ridge FM owns Alternative “94Z” 94.3 WNFZ Powell/Knoxville.
Lucas Carperter’s Crystal Media Group acquires Farm/Country 1150 KASM/107.7 K299BT and 105.5 KDDG Albany MN from Dennis Carpenter’s Starcom for $2.925 million. KDDG simulcasts Milestone Radio’s “Bob 106.1” KLCI Elk River MN.
Major Market Stations sells Silent 1550 KWRN and 99.5 K258DE Apple Valley/Victorville CA to Lazer Broadcasting for $178,000.
Jacobs Radio Programming purchases 93.3 KEUB Gearhart/Astoria OR from Radio Beam Inc. for $80,000.
WPW Broadcasting buys 95.1 K236CF Muscatine IA from Kaskaskia Broadcasting for $20,000. K236CF will continue to rebroadcast the buyer’s Farm/Classic Country 860 KWPC Muscatine.
Eagle Communications exercises its option to acquire 94.5 K233CF Abilene KS from First Ventures Capital Partners for $3500. K233CF rebroadcasts Eagle’s News/Talk 910 KINA Abilene.