He’s the head of On The Go Media, and two FM radio stations are poised to go into the asset stable of this Hampton, Iowa-based broadcast company led by Shawn Dietz.
The deal keeps ownership of the FM pair local.
Craig Donnelly and his CD Broadcasting is selling KLMJ-FM 104.9 in Hampton, Iowa and KQCR-FM 98.9 in Parkersburg, Iowa to On The Go.
The purchase price is $1.25 million. A $5,000 deposit has been made. A $870,000 cash payment will be made at closing. The remaining $375,000 will be honored via a Promissory Note.
Serving as the seller’s legal counsel is Matthew McCormick of Fletcher, Heald & Hildreth; Mark Denbo of Smithwick & Belendiuk was the buyer’s legal counsel.
KLMJ is a 6kw Class A facility with a tower due north of Hampton, a small town to the south of Mason City and far northwest of Waterloo. KQCR’s 6kw Class A tower is to the west of Cedar Falls and Waterloo, and just east of Iowa Falls.
