Buckley Broadcasting has sold all but one of its radio stations, and is all but out of the radio biz. But although it’s not obvious, a San Luis Obispo deal will keep the family in the business after all. Broker: Frank Boyle, Frank Boyle & Company
The basic outline of the deal is this: Mapleton Communications is selling its five-station SLO cluster to Dimes Media. No sign of a Buckley on either side of the table, right?
That is, unless you are aware that Dimes was the middle name of late group founder Richard D. Buckley, for whom the new radio company is named. Further, Dimes principal Eric Fahnoe is the grandson of Richard Dimes Buckley, and the son of his sister Martha, and is the nephew of the late Dick Buckley (pictured).
“Our family has owned and operated stations for three generations under the Buckley name,” stated Fahnoe. “I’m proud to lead this new company at an exciting and innovative time in our industry’s evolution.”
The stations included in the sale are KYPG-FM, KXTZ-FM, KXDZ-FM, KWWV-FM & KYNS-AM. Terms were not disclosed.
Speaking about the stations, Fahnoe said, “After significant research and investigation, we determined that the San Luis Obispo market represents a vibrant and diverse community with tremendous potential. We’re thrilled to be the flagship of the newly formed Dimes Media.”
Broker Frank Boyle noted that a significant fact in this deal is that a radio legacy is being handed down to a third generation in a business where it rarely makes it past a father-son connection.
Fahnoe had been working in the family business, too, including holding down the VP/GM chair at the family’s Hartford CT business until sweeping staff changes were made under the new ownership of Connoisseur.
