Stone Canyon Media Group has announced the purchase of Grenax II Brodcasting’s four stations in Flagstaff AZ for $925,000.
The new group is led by former Cherry Creek Media CEO Joe Schwartz, Withers Broadcasting President Dana Withers, and Emmis Senior Vice President John Beck. Stone Canyon Radio and Marketing will acquire Classic Hits “Rewind 92.5/104.1” KFLX Chino Valley, Classic Rock “96.7 The Wolf” KWMX, Conservative Talk “97.1 The Big Talker” KBTK Kachina Village, and Country “107.5 Kolt Country” KSED Sedona.
Schwartz and Beck’s Stone Canyon Radio and Marketing LLC will own 75% of the company with those two holding 50% of that company. Dana Withers will hold the other 25%. Schwartz will be relocating to Flagstaff to oversee the stations. A Time Brokerage Agreement will take effect prior to closing.
Stone Canyon Radio and Marketing LLC, whose principles include veteran broadcasters Joe Schwartz (former Cherry Creek Media CEO), John R. Beck, Jr. (Emmis Communications St. Louis Sr. VP) and Dana Withers (President/Withers Broadcasting and Dana Communications), have announced the purchase of four stations in Flagstaff-Prescott, AZ, from Grenax II Broadcasting LLC. Included in the deal are KSED-FM (107.5 KOLT Country), KWMX-FM (The Wolf-Classic Rock 96.7), KBTK-FM (97.1 The Big Talker) and KFLX-FM (Rewind 92.5/104.1).
Schwartz commented, “This is a wonderful opportunity for three veteran broadcasters to pool our years of broadcast experience to create exceptional programming, on the street marketing, top digital assets and to bring the best advertising services available to the Flagstaff-Prescott area. In addition I can’t wait to work with current VP & General Manager Stan Pierce and his team.”
Beck noted, “We believe that the key to our success in Flagstaff-Prescott will be our people. Greg Dinetz at Grenax has gathered together some of the best in the business and we look forward to working with them.”
“We are very excited to be entering the Flagstaff-Prescott, AZ market and looking forward to building upon the legacy that Grenax has established as well as caring for the listeners, the employees, our clients, and the community,” stated Withers.
Greg Dinetz added, “We are so pleased to have broadcasters the caliber of Dana, Joe and John take over these great stations. They are dedicated to serving the communities they operate in and will bring that passion for localism to their clients, listeners and team members in the Flagstaff – Prescott market.”
Schwartz will be relocating to the Flagstaff area to work with the cluster team while Beck and Withers will remain at their current positions in St. Louis and Mt. Vernon. The deal is subject to FCC approval. The start of an LMA, which will allow for an earlier takeover, will be announced shortly.
