Jim Ingstad sold his radio cluster in the Fargo ND-Moorhead MN radio market, then turned right around and bought another one. Here’s a close-up of his new North Dakota-Minnesota border-straddling radio operation.
First the back story: Ingstad’s Radio Fargo-Moorhead Inc. sold a cluster consisting of KFGO-AM, KVOX-AM, WDAY-FM, KRWK-FM, KMJO-FM & KBVB-FM to Midwest Broadcasting in a deal filed with the FCC 9/20/12. The price was $25M.
A few months later, Larry Wilson’s L&L Broadcasting picked up KPFX-FM, KQWB-AM, KBMW-AM, KLTA-FM, KQWB-FM & KVOX-FM in a group deal which carried a lower price tag of $21M despite the fact that it also included stations in Peoria IL, Biloxi-Gulfport-Pascagoula MS, Savannah GA-Hilton Head SC and Bluefield WV. The seller was Triad Broadcasting and the deal was accepted by the FCC 12/3/12.
Fast forward to 5/14/13 and the Triad/L&L cluster again made an appearance in the FCC’s deal database, this time in a transaction sending the stations from L&L to a new version of Radio Fargo-Moorhead Inc. The price: $9.5M cash. Media Venture Partners represented Ingstad in the transaction.
Here is a look at the stations Ingstad will be running via an LMA pending closing:
* KLTA-FM Breckenridge MN: A Hot AC outlet that calls attention to its mix of material from the 90s, 2K and today, it’s a Class C1 on 105.1 MHz with 100 kW @ 659’
* KPFX-FM Fargo ND: The Fox is a classic rock outlet, a C1 on 107.9 MHz with 100 kW @ 659’
* KWQB-AM West Fargo ND: True Oldies is the moniker of this Class B on expanded band 1660 kHz, where it has the standard 10 kW-D, 1 kW-N, ND power output
* KQWB-FM Moorhead MN: Q98 Rocks with a Class C1 on 98.7 MHz with 100 kW @ 581’
* KVOX-FM Moorhead MN: Froggy 99.9 is a Country-playing Class C1 on 99.9 MHz with 100 kW @ 381’
* KBMW-AM Breckenridge MN: The Voice of the Valley is a variety station, a Class C on 1450 kHz with kW-U, ND. It’s the only station that doesn’t reach into Fargo with a primary contour – its signal is oriented to the area to the south.
