K-Love Network owner and operator Educational Media Foundation is on the move yet again in the Santa Fe NM market. It bought two FMs from Clear Channel back in March, sold one of them to a local operator earlier this month, and now its swapping the other with a local college.
The broad outline is this: EMF will get KSFR-FM, a Class A licensed to Santa Fe on 90.7 MHz, in return for Santa Fe Community College's KSFQ-FM, a Class C2 licensed to the northwest in White Rock NM on 101.1 MHz. EMF will also pay cash earmarked for specific purposes, including 50K for plant improvements at the KSFQ tower site, 35K for fees to Public Radio Capital, 15K for KSFR promotional expenses, 25K for SFCC's "Give Back" fund, up to 10K for SFCC legal fees and up to 6K for SFCC engineering fees.
Based on EMF's cash outlays,its deal for KSFQ-FM and KBAC-FM from Clear Channel and its subsequent sale of KBAC-FM to Hutton Broadcasting, we estimate the value of KSFQ at 850K and KSFR at 991K.
