Back in March, Educational Media Foundation announced its purchase of four Salem Media signals spread between Nashville and Honolulu for $7 million. The Christian radio giant is now recouping some of that purchase price in the new sale of one of the three licenses formerly simulcasting “94 FM The Fish” to Music City, U.S.A.
As filed with the FCC, EMF is selling Class A WFFI in Kingston Springs, Tenn., to fellow California non-profit religious corporation Family Stations, Inc., a.k.a. Family Radio, pending FCC approval. The purchase price: $2.1 million. A $105,000 escrow deposit is being held, to be paid at closing.
WFFI has served as a K-LOVE Member station, taking on EMF’s Christian Contemporary Music format via an LMA ahead of the July closing that went into effect on May 1. With the sale, WBOZ in Woodbury, Tenn., and WLVU in Belle Meade, Tenn., will continue to broadcast K-LOVE. Before the deal, W223BV at 92.5 MHz in Brentwood, Tenn., was the sole station airing the Worship Music noncommercial network Air1. Following the transaction, WFFH ins Smyrna, Tenn. now serves as the Nashville market’s home for Air1.
The buyer is represented Kathleen Victory of Fletcher, Heald, & Hildreth, while Wilkinson Barker Knauer‘s David Oxenford represents the seller. Robert H. Branch was the sole broker, working for Family Radio.
The new stick comes close to home for Family Radio – while the broadcaster’s Network Operations are based in Alameda, Calif., the company’s other headquarters is located in Franklin, Tenn.
This deal comes days after the news of Family Radio’s sale of KPRA-FM 89.5, a Class B1 station covering Mendocino County, Calif., to Ukiah Christian Radio for $68,000.
