A pair of South Dakota TV stations are being spun to a broadcast ministry — a deal brokered by Kalil & Co. that fully transitions a property (and its full-time satellite partner) that had been one of the original FOX network affiliates.
In fact, the sale was greatly influenced by Gray Television‘s 2020 acquisition of the intellectual property associated with that 33-year-old broadcast station.
As RBR+TVBR reported in November 2020, Independent Communications Inc. agreed to sell the FOX affiliation and all associated intellectual property of KTTW-7 in Sioux Falls, S.D., which also uses digital VHF Channel 7, to Gray for an undisclosed price.
In a separate deal filed a few days later, five low-power translators that had been associated with KTTW were grabbed by Gray from ICI — for $1.
This “shifted’ KTTW on Nov. 2, 2020 to KDLT-21’s DT2 signal, a move perfectly within FCC regulatory policy, even as Gray now controls the NBC, ABC, FOX and CW+ affiliations in Sioux Falls.
And, as such, it ended the use of KTTM-7, using digital channel 12, for FOX programming, too.
With Kalil & Co. brought on to market KTTM & KTTW, ICI, a local consortium headed by Tom Whalen, has now found itself a buyer.
It is Radiant Life Ministries, the Illinois-based operation led by Garth Coonce. That’s the operation in control of the TCT Network.
According to an asset purchase agreement filed with the FCC on February 10, it is paying $850,000 for the TV twins. A $42,500 deposit has been made and is being held by escrow agent Fletcher, Heald & Hildreth.
Kalil & Co. represented the seller in this transaction. Radiant Life’s legal counsel in this transaction is Joe Chautin of Hardy, Carey, Chautin & Balkin. The seller is represented by Matthew McCormick of Fletcher, Heald & Hildreth.
