A pair of AM radio stations and an FM translator serving towns straddling the border between North Dakota and South Dakota are poised to change hands, pending FCC regulatory approval of the deal.
In Lemmon, S.D., where AM radio reception is crucial due to its rural geographical location, KBJM-AM 1400 and FM translator K285HH — the lone local broadcast facilities — are being sold along with nearby KNDC-AM 1490 in Hettinger, N.D.
The buyer is Radd Media, which is agreeing to purchase the broadcast properties from Schweitzer Media (for KNDC) and related entity Media Associates Inc. (for KBJM) at a combined price of $635,000.
The KNDC value is assessed at $265,000; the value of KBJM is $370,000.
Terms call for a 10% downpayment on the allocated purchase price; for KNDC it is $190,000 as the building housing its offices and studios is valued at $75,000.
To fund the transaction, the parties have agreed to a Promissory Note calling for monthly payments over a 15-year term at 6% annual interest.
Serving as the seller’s legal counsel is The Law Office of Dan J. Alpert.
Aside from these properties, the only other stations audible during daylight hours in Lemmon are KFYR-AM in Bismarck, N.D.; KBHB-AM in Sturgis, S.D.; KZRN-FM 102.3 in Hettinger, N.D.; and NPR Member KPSD-FM in Faith, S.D.
