A Class C AM serving Centerville, Iowa, and its FM translator companion are being acquired by a new licensee of radio stations co-owned in a 50/50 split by Austin Anderson and Russell Ocker.
Their Iowa Media Network is the buyer of KCOG-AM 1400 and K280GY in Centerville, thanks to a deal with Honey Creek Broadcasting, led by Edwin Brand.
With David Oxenford of Wilkinson Barker Knauer serving as the seller’s legal counsel, Honey Creek is pocketing $100,000 from the transaction.
A $1,000 earnest money deposit has been made to the seller.
Allocation of the purchase price is as follows:
- Real property: $35,000
- Improvements on the AM radio station tower: $15,000
- Personal property: $10,000
- Goodwill: $40,000
The purchase of a radio broadcasting facility marks a new chapter for The Iowa Media Network, comprised of online TV streams covering Iowa High School and Community College sports and events as well as Iowa Community news.
