Just shy of five years ago, a Kansas-based broadcasting company entered into a FM translator rebroadcast and option agreement that allowed it to acquire the 250-watt facility giving some “AM revitalization” to a News/Talk station with FOX News branding.
This company is now exercising its right to purchase the translator.
Also in TRANSACTIONS TODAY: Connoisseur’s Constitution State divestments are complete.
On April 22, 2013, Eagle Communications struck a deal with First Ventures Capital Partners that allowed it to use K233CF at 94.5 MHz in the Salina, Kan., suburb of Abilene as a rebroadcast partner of News/Talk KINA-AM 910, a Class D facility with 500 watts during daylight hours and a paltry 29 watts at night.
Now, it is acquiring the facility formerly known as K231AW for an option price of $3,500, “plus all unpaid remaining Rebroadcast Payments.”
Those payments are fulfilled under the original agreements, which saw Eagle pay $560 per month for a five-year period; the final payment was made in March 2018.
Also paid, in 2013, was a $10,000 execution agreement.
This puts the full value of the transaction at $47,100.
Eagle Communications is headed by CEO Gary Shorman. He’s been in that role since 1985. Eagle Communications owns and operates radio stations in Kansas, Nebraska and Missouri and cable television systems in Kansas, Nebraska and Colorado. It sold its broadcast TV stations in 1989.
CONNOISSEUR CLOSES A CHAPTER IN CONNECTICUT
The sale by Connoisseur Media of WDRC-AM & FM in Hartford, WMMV-AM in Meriden, WSNG-AM in Torrington and W272DO “Mod 102” in New Haven to Red Wolf has closed.
Red Wolf paid $8 million for the stations.
Michael J. Bergner of Bergner & Co. was the exclusive broker in this transaction.
