An AM/FM combo serving a small Montana town situated along the Beaverhead River, and Interstate 15, an hour to the south of Butte are heading to a new owner.
That’s pending FCC regulatory approval, of course, of their transfer to an “Angel.”
It is the result of an agreement between Dead-Air Broadcasting Company and its President, Jo Ann Jean Juliano, and Ronald and Dianne Pelletier, 50/50 partners in Angel Broadcasting LLC.
An asset purchase agreement signed by the parties shows KDBM-AM & KBEV-FM in Dillon, home to the University of Montana Western, being transferred along with FM translator K227BM at 93.3 MHz in Sheridan, Mont., at a price of $406,725.
However, an additional $93,275 will be paid for real property, pushing the total to $500,000.
At signing or closing, as determined by Dead-Air, a $100,000 cash payment will be made by the Pelletiers. The remainder will be payable via a self-financed Promissory Note at a 6% interest rate, payable over 8 years with a balloon payment of all remaining principal, accrued interest, fees, costs and other amounts due on or prior to the due date of the 36th monthly payment.
KDBM offers “Dillon’s Real Country” while KBEV is a Classic Hits station.
Serving as Angel’s legal representative in this transaction is Paige Fronabarger with Wilkinson Barker Knauer LLP.
