A Kentucky-based entity headed by the same person that leads Seven Mountains Media is growing again.
This company is grabbing a Class A FM with a signal covering the state capital, and most of the area to the west of Lexington.
The licensee known as Southern Belle LLC, and associated entity Capcity Communications LLC, is agreeing to purchase WKYL-FM 102.1, licensed to Lawrence, Ky.
The 6kw facility is being sold by Davenport Broadcasting and since July 2011 has been leased by Eastern Kentucky University to serve as a home for NPR member station WEKU-FM‘s Classical format.
Before that, it was a Broadcast Architecture-fueled Smooth Jazz station.
Now, it is set to change formats under Capcity and its Manager, Kristin Cantrell.
A $250,000 purchase price has been struck. Terms call for a $100,000 cash payment at closing, and $25,000 in trade for advertising on the station usable for the first five years of Capcity ownership.
Then, no-interest monthly payments of $833.37 will commence, for 120 months (10 years).
The Promissory Note includes a personal guarantee from Cantrell.
Serving as Cantrell’s legal counsel in this transaction is Matthew McCormick of Fletcher Heald & Hildreth.
While Southern Belle LLC is also the licensee of Seven Mountains Media stations, WKYL will join a Frankfort-based group of properties comprised of WFKY-FM, WFRT-FM, WKYW-AM and FM translator W228CL, which are managed independently of the Keystone State properties.
