After taking over operations of Salem Media’s Louisville cluster via LMA at the start of 2017, Word Broadcasting Network has exercised its option to purchase the stations for $4 million.
Word will acquire Conservative Talk “970 The Answer” WGTK Louisville with a CP for 93.5 W228EO Louisville, Christian Preaching 94.7 WFIA-FM New Albany IN and 900 WFIA/107.3 W297BV Louisville which simulcasts Word’s Christian AC 88.5 WJIE-FM Okolona KY. Those stations will join Word’s holdings that also includes two television stations in Louisville.
A $250,000 credit will be given to Word Broadcasting Network if the sale closes on or before March 31, 2020. Word will also be credited the monthly LMA fees for the 4th through 29th months of the LMA and a $2000 per month credit for every month after that. A $450,000 payment was already made to Salem as part of the Option Agreement.
