PORTLAND, ORE. — The Ocean Station Trust II, created as a result of a swap of stations between Entercom and iHeartMedia consummated in November 2017, is parting ways with a radio station that enjoys a city-grade signal over Tacoma, Wash., that two decades ago was known as “The Funky Monkey” and aired a Active Rock format.
Now, this facility is ready to serve the lord as the second O&O for a network one can worship, if you will.
And, it marks the conclusion of a trust set up nearly three years ago and is today led by Barry Drake.
Wilsonville, Ore., based 247 Media Ministries, the parent organization of the Worship 24/7 Radio Network, has entered into an agreement to purchase KTDD-FM 104.9, licensed to Eatonville, Wash., from the trust, presently administered by former Backyard Broadcasting President/CEO Barry Drake.
KTDD currently airs an Adult Contemporary Christian Format, and it will keep the format as it becomes the second FM signal to air the Worship 24/7 Network. The other station in KURT-FM 93.7 in Prineville, Ore., serving the Bend and Sisters area.
The trust is earning $320,000 for KTDD, pending FCC approval.
Jon Yinger of Michigan-based Broadcast Properties LLC served as the exclusive broker representing the buyer in this transaction. It was incorrectly reported in an earlier version of this story, based on information supplied to RBR+TVBR, that Broadcast Properties also represented the Ocean Trust.
Originally administered by the late Jeanette Tully, the trust comprised three stations that were the property of iHeart, prior to its post-bankruptcy reconstituted entity that exists today:
- Class C Alternative KFOO-FM “Alt 102.9,” a South Sound station licensed to Centralia, Wash.
- Class C3 CHR/Rhythmic KUBE-FM — the present KTDD-FM.
- Class B Talker WKOX-AM 1430, licensed to Everett, Mass. WKOX has 5kw from 1 tower during daytime hours and 1kw from 2 towers at night.
As RBR+TVBR reported in April, WKOX has been donated by the Ocean Station Trust II to Delmarva Educational Association, led by Nancy Epperson. That is the aunt, on his father’s side, of Truth Broadcasting Company President Stuart Epperson Jr. — nephew of Salem Media Group CEO Ed Atsinger III. Stuart Epperson Jr., along with Nancy, each have 11.1% interest in Delmarva Educational Assocation.
That followed the May 2019 acquisition by Bustos Media Holdings of what was KFOO and is today regional Mexican KZTM-FM 102.9. The deal was valued at $3 million. Bill Fanning of what was then Media Venture Partners Capital served as the broker.
