In late August 2016, Red Rock Radio Corp. began to divest all of its radio assets. Among the first deals to be struck was a transaction that saw five FMs and three associated translators go to Midwest Communications for an undisclosed price.
Now, Midwest, headed by Duke Wright, is spinning two of those FMs and one FM translator to a Minnesota-based company led by Matthew Butler.
Also in RBR+TVBR’s TRANSACTIONS TODAY: An AM with an FM translator is sold by the estate of the late Cary Simpson.
The late-summer 2016 transaction between Red Rock and Midwest gave the latter company possession of KQDS-FM/Duluth, WEVE-FM/Eveleth, KGPZ-FM/Coleraine, WXXZ-FM/Grand Marais and KAOD-FM/Babbitt—along and translators W252AN in Hibbing, W288AI in Ely and W221AU in Virginia for an undisclosed price.
In a deal codified on May 17 and filed with the FCC on June 5, Midwest is selling WXXZ, KAOD and W288AI to Butler’s Aurora Broadcasting for $75,000. KAOD will be the primary station covered on W288AI.
A 10% earnest money deposit has been made by Butler to Midwest.
There is no broker in this transaction. Midwest was represented legally by the Wausau, Wisc., based Ruder Ware LLSC.
Butler was previously a principal in the now-deleted WKSY-FM in Grand Marais. The station could not be built “due to local conditions,” it is explained in the FCC Form 314 filing. The construction permit for WKSY expired without a covering license application being filed.
In other TRANSACTIONS TODAY:
- Lightner Communications LLC is purchasing a Class C AM station located between the Pennsylvania cities of State College and Altoona. For $90,000, the company is acquiring WTRN-AM 1340 in Tyrone, Pa., which has 1kw from 1 tower, and its FM translator, W264BZ at 100.7 MHz. The station had been owned by the late Cary H. Simpson, and the executor of his estate, Thomas J. Hoyne, directed the sale of the properties. Allocation of the purchase price shows $20,000 for real property, $30,000 for the tower and ground system, $15,000 for transmitting equipment, $10,000 for studio equipment, and $15,000 for licenses and ongoing business goodwill. Roger Rafson of Pittsburgh-based CMS Station Brokerage represented Simpson’s estate in this transaction. Assumed contracts include programming for Penn State athletics, the Pittsburgh Pirates baseball club, and Westwood One-supplied Adult Contemporary programming.
