In October 2020, an option to purchase an AM/FM combo and an FM translator in the Midland, Michigan market was struck by life-long Michiganers and long-time broadcasters Mike Chires and Norm McKee.
On Monday (4/24), paperwork was submitted for FCC regulatory approval that, at long last, would bring the properties to their Black Diamond Broadcasting.
As RBR+TVBR first reported, Black Diamond is agreeing to acquire WMRX-FM 97.7, “Sunny 97.7,” in Beaverton; and WMPX-AM 1490 and FM translator W299CK at 107.7 MHz in Midland.
It is also getting “Discover Michigan” magazine.
The seller is Steel Broadcasting, led by Tom and Bev Steel.
The option had a December 31, 2023 expiry date, and $100 is being paid to execute it at this time. The transaction is valued at $125,900.
Once the deal closes, Black Diamond will expand from 10 to 13 radio stations covering central and northern Michigan. The company owns and operates radio stations including Houghton Lake based 98.5 WUPS, Traverse City based Rock 105 & 95.5, 98.1 & 95.3 Classic Rock-The Bear and 102.9 Big Country.
Tom Steel said of the transaction in October 2020, “The time is right for Bev and I to step away from the daily demands of running our business and are thrilled that Black Diamond took immediate interest in what we have created. Their broadcast experience and expertise, combined with their commitment to Midland, as well as all of central and northern Michigan were key to us in making our decision to sell.”
Black Diamond will assume operations of the new stations effective on or about October 1st, under the terms of a Local Marketing Agreement, until such time as the transaction closes, following Federal Communication Commission approval.
