Update 12/5: A few more details have come out regarding the failed sale. Ferris O’Brien tells The Oklahoman that the station was appraised for much less than the $2 Million purchase price. As The Last Bastion Station Trust’s purpose is to get the most value it can for the station it will place the station back on the market and attempt to find a new buyer. If none can be found willing to beat O’Brien’s valuation perhaps the sale can be rekindled down the road.
Original Report 12/4: The “105.3 The Spy” Modern Rock format programmed by Ferris O’Brien on KINB Kingfisher/Oklahoma City is gone and replaced by “105.3 The Spy“. O’Brien had been leasing the station from Citadel’s Last Bastion Station Trust since November 2009 and the FCC had already approved the purchase of the station by his Spymedia LLC from the trust for $2 Million.
It looks as though the sale will not close as Citadel has taken back control of the station and programming it as “105.3 The Spy“, while O’Briens version continues streaming at TheSpyFM.com. O’Brien made the following statement on the station’s Facebook page:
To be specific: yes, we’re no longer broadcasting on 105.3 FM. It’s too detailed to go into at any length right now… but we want the airwaves back, and we’re working on it. Thanks.
This was the second incarnation of “The Spy” on 105.3. A previous version, also programmed by O’Brien ran from 2002 to 2004 prior to becoming Reional Mexican “La Indomable”. He later hosted a Modern Rock specialty show with the Spy name on Citadel Active Rock KATT 100.5. OKCBiz has more on the history of The Spy name in Oklahoma.
Will there be a battle over the moniker? Citadel had previous ownership of the name from the prior incarnation and continues to own 1053TheSpy.com. Based on their recent lawsuit against Renda Broadcasting over usage of the “Bob FM” moniker in Tulsa, Citadel will attempt protect its brand rights in Oklahoma City.