Another Twist To Fargo Sales; Owners Swap Country Outlets
Update 6/4: The KBVB/KVOX-FM station swap has been filed with the FCC. As part of the deal Midwest will also acquire 98.3 K252EZ Lisbon, ND. The translator currently rebroadcasts 91.9 KDSU Fargo, but an upgrade application will be filed to change the originating station to one of Midwest’s stations.
The sale agreement also discusses how the companies will manage non-competes between the two. Either company can hire anyone terminated from the other. The morning show of “Froggy 99.9” KVOX-FM has extra conditions. Both companies have the right to hire John Halverson (Jesse James), Amanda Scheid (Amanda Lea), Taylor Peterson (Pike) and Alex Halverson. However, Radio Fargo-Moorhead cannot hire them for a Country station in the Fargo market.
Original Report 5/7: Another twist has come into the game of ownership musical chairs taking place in Fargo, ND.
First to recap: In September, Midwest Communications agreed to acquire James Ingstad’s Radio Fargo-Moorhead cluster for $25 Million. L&L Broadcasting acquired Triad Broadcasting’s 32 stations in November for $21 Million including their Fargo cluster. With both of those sales closing on May 1, Ingstad agreed to acquire L&L’s newly acquired stations in Fargo for $9 Million.
Now Midwest and Ingstad are swapping Country stations. “Froggy 99.9” KVOX-FM heads to Midwest while “Bob 95.1” KBVB heads back to Ingstad. It is unknown at this time if any money exchanged hands in the deal. In the Fall 2012 Arbitron ratings both stations tied for third in the market with an 8.3 share.
The Fargo-Moorhead Forum speculates that both groups “may have an agreement to raise ad rates or reduce marketing expenses,” a claim that was immediately shot down by Midwest head Duke Wright.