To the northeast of Dallas, a Class A facility served the local community with contemporary Christian music under the branding “Celebrate FM.”
That came to an end on Oct. 30, when the station’s owner and operator decided to sell the station. Now, an Asset Purchase Agreement has been filed with the Commission to spin the property, which was sold by LKCM Radio Licenses in March 2014 to the entity now parting ways with it.
The station trading hands is KRVA-FM 107.1, licensed to Campbell, Texas, and serving the Sulphur Springs and Greenville, Tex., area.
In March 2014, the Craig Morgan-led Way Radio Group LLC acquired the station for $120,000. Bill Whitley of Media Services Group‘s Dallas office represented the seller in the deal, which was consummated after a June 2013 deal with Hill Wireless cratered.
Now, Way — renamed Promise Radio Group LLC in the time since the 2014 deal — is selling KRVA to Racy Properties LLC for a tiny profit.
The sale price is $125,000, and a $15,000 escrow deposit has been made to Media Services Group. Whitley is once again serving as the broker, and was retained by the seller.
Racy is led by Chad Young, and his wife Rhoda Adair Young is in a 50-50 partnership with him for ownership of Racy. Their acquisition of KRVA-FM creates a combo in the Sulphur Springs area, as they own Class C Oldies KSST-AM 1230.
For former listeners of Celebrate FM, Promise is directing them to Class A KETE-FM 99.7, a facility to the northeast of Sulphur Springs in Sulphur Bluff, Tex.
In other TRANSACTIONS TODAY:
- Educational Media Foundation has closed on its $550,000 acquisition of Class A WJKE-FM 101.3 in Stillwater, N.Y.; serving the Albany-Schenectady-Troy market. The seller is Empire Broadcasting. Serving as the exclusive broker in this transaction is Michael J. Bergner of Bergner & Co.
