Fifteen years ago, Steven Fuchs signed off on a Time Brokerage Agreement allowing Fox Radio Network to control a 25kw Class C3 FM serving a Missouri city along the Black River, in the southeastern corner of the Show-Me State. Now, he is converting that long-term lease into an outright purchase.
KPPL-FM 92.5 in Poplar Bluff, Mo., is being acquired by Fox Radio Network from George S. Flinn Jr.
Flinn hasn’t operated the station himself since February 2009, and now Fox is agreeing to purchase it for $200,000. A $10,000 escrow deposit has been made, and is being held with broker Clifton Gardiner, who represented Flinn in this deal.
Terms call for Fuchs and his spouse, Rochelle, to remain “employees” of Flinn, and are entitled to five years’ worth of health insurance via reimbursement payments made by Flinn.
Fox’s legal counsel in this transaction is Dan J. Alpert.
