Monte Spearman’s High Plains Radio Network has been on a buying spree in the last six months, and it’s at it again. This time, HPRN is acquiring an AM with an FM translator in a major Deep South market, and a Class D AM to the south of this market.
The stations HPRN is adding to its stable are KDXE-AM 1380 in North Little Rock, Ark., and its FM translator, K288EZ at 105.5 MHz.
KDXE is a Class B with 5kw during daylight hours and 2.5kw at night. It boasts a directional signal coming from 6 towers. The translator enjoys excellent coverage over central Little Rock.
The stations air an Urban AC format, using the translator’s dial position for its “Hot 105.5” branding.
The seller is NC Communications, an Arkansas LLC, and its divesting the AM and translator for a total sale price of $330,000.
Included in the asset purchase agreement is a provision in which HPRN will acquire the accounts receivable for 60% of their face value for all accounts that are below “net 90.” For all other accounts, they will be turned over to Spearman’s company at no cost.
In a separate deal, HPRN is acquiring KAFN-AM 690 in Benton, Ark., to the south of Little Rock, from Saline River Media.
The total purchase price is $50,000.
KAFN has 250 watts during daylight hours, and 73 watts at night, using 1 tower.
Mahlman Radio Brokerage is the exclusive broker in these transactions, and the sellers are each responsible for their brokerage fees at closing.
High Plains Radio Network enjoyed slow and steady growth in 2016, and closed out the year by increasing its total station count to 23. For a total purchase price of $35,000, High Plains is acquiring KSKE-AM 1450 in Buena Vista, Colo., from Pilgrim Communications. Closing has not yet transpired.
In other TRANSACTIONS TODAY:
- Walker Broadcasting & Communications is selling KJDL-AM 1420 in Lubbock, Tex., and FM translator K254CI, at 98.7 MHz in Lubbock to Flores Communications for $275,000. A 10% escrow deposit has been made to the seller’s agent, Patrick Communications, which is also the broker in this transaction. KJDL has a two-pattern signal with daytime power of 500 watts and nighttime power of 140 watts. KJDL brands itself as “The Red Dirt Rebel” and airs an Americana music format.
- Praise and Glory Ministries is divesting WITM-AM 1330 in Marion, Va., to Bristol Broadcasting Co. for a total purchase price of $2,000. WITM has a 5kw daytime, 31 watt Class D facility, broadcasting from 1 tower.