An AM/FM combo serving a community to the south of Cape Girardeau, Mo., is being sold.
The stations air a Country format and offer a simulcast to local listeners.
KDEX-AM & FM in Dexter, Mo. are being spun by Dexter Broadcasting Company to the newly formed KDEX Inc.
The transaction is valued at $150,000, and gives the stations to an entity led by Palmer Johnson, of Kennett, Mo.
The terms of the deal see Johnson agree to pay $5,000 in cash at closing. The remainder will be represented via a Promissory Note bearing 4% annual interest, and holding an eight-year term.
The breakout of the purchase price shows $68,000 for the building, its contents, and goodwill; $50,000 for the broadcast tower; and $32,000 for the land.
