The series of deals in the break-up of Mississippi Valley Broadcasters have been filed with the FCC giving much more details as to how everything will go down.
Magnum Media will pay $1.4 million for Soft Oldies “102.7 MeTV-FM” KQEG, Country “Kicks 106.3” WQCC, and Conservative Talk 1490 WLFN to join their La Crosse market holdings of Hot AC “Mix 96.1/107.3” WXYM/W297CT, Classic Rock 94.5 WTMB and Classic Country 1460 WBOG, and low-power television station KQEG-CD. The deal also includes all of the studio equipment, contract rights and HD licenses of the two stations being sold to the other operators.
Magnum will then also acquire 97.9 K250AZ La Crosse from The Salvation Poem Foundation for $5,000. The translator becomes redundant with Salvation Poem Foundation’s acquisition of Hot AC “Magic 105” 104.9 WLXR-FM for $300,000.
The final part of the deal sees Educational Media Foundation pay $400,000 for 100.1 WKBH-FM.
Original Report 6/3: Mississippi Valley Broadcasters is selling its La Crosse WI cluster in a series of deals.
Magnum Media will purchase Soft Oldies “102.7 MeTV-FM” KQEG La Crescent MN, Country “Kicks 106.3” WQCC La Crosse, and Conservative Talk 1490 WLFN La Crosse. Magnum already owns Hot AC “Mix 96.1/107.3” WXYM/W297CT, a low-power television station KQEG-CD, and two stations in nearby Tomah (Classic Rock 94.5 WTMB and Classic Country 1460 WBOG) in the La Crosse market.
“Classic Rock 100.1” WKBH-FM West Salem/La Crosse WI goes to Educational Media Foundation. The deal marks EMF’s entry into the La Crosse market.
Hot AC “Magic 105” 104.9 WLXR-FM La Crosse will go to The Salvation Poem Foundation, which operates the regional Christian “Prayz Network” based at 89.3 WEQS Sparta WI and currently heard in La Crosse on 97.9 K250AZ.
Terms of the deals were not disclosed. KALIL & CO. Inc. served as broker for the transactions.
Mississippi Valley Broadcasters, LLC, d/b/a La Crosse Media Group, has filed an application with the Federal Communications Commission to sell WQCC-FM, KQEG-FM, and WLFN-AM to Magnum Communications, Inc., d/b/a Magnum.Media.
Dave Magnum stated, “A dedicated bunch of folks really stuck together over 14 months to put this puzzle of transactions together. I’ve known Pat Smith for a long time; he’s a multi-talented broadcaster who forged and sustained a very impressive Radio career. Pat and his business partner, Kelly Ramsey, achieved many successes.”
Reid Magnum added, “My late Mom, Lynn, and my Dad started from scratch with a Tomah licensed Construction Permit in the La Crosse market in 1991. My Brother, Ty, and I were both born in La Crosse. My wife, Chelsey, graduated from UW-La Crosse. The region known as ‘God’s Country’ is special to our family in several ways.”
Pat Smith, Managing Member of La Crosse Media Group, has been in La Crosse his entire career. He began in 1974 as a part-time deejay while earning his Mass Communications degree at UW-La Crosse. He went on to work as a Program Director, Farm Director, News Reporter/Anchor, Operations Manager, Salesperson, Sales Manager, General Manager, and now minority ownership as Managing Member. Smith said, “La Crosse has been a great place to raise a family. My wife, Joanie, also works at the stations. Together we learned from Joe Rohrer and Wisconsin Broadcasting Hall of Famer Jean Gitz Bassett how broadcasters can serve their community. I hope I lived up to Jean’s expectations by being involved in an array of community organizations and my Church. I will always be thankful that so many of our team members shared our vision. I wish there was space here to pay tribute to all of them individually. Regarding the future, Dave Magnum has a reputation for dedication to the many communities his group serves across Wisconsin. I’m proud to be handing over the reins of three of our stations to the Magnum family.” Smith says he will retire after assisting with the transition, focus on his health, and try to keep up with his grandkids.
