Since 1981, he’s been associated with an AM and FM station serving tiny Salem, Illinois, to the northeast of Centralia. Today, these stations are paired with an FM translator and for the last decade have been owned by the Mary Quass-led NRG Media.
Now, a sale of these stations has been agreed to and awaits the FCC’s approval. Not to worry about the stations’ longtime leader, however — he’s the buyer.
With Scott Woodworth of Edinger Associates PLLC working with his newly formed group, WSIQ-AM & WJBD-FM General Manager Bruce Kropp is acquiring the properties along with WSIQ’s FM translator, W221DU.
He’s doing so through South Central Illinois Multimedia LLC, of which Kropp is the sole owner.
A $500,000 purchase price was agreed to, and a $25,000 earnest money deposit is being held by Hudspeth Law Office LLC. The remainder will be paid at closing, with adjustment as needed based on receivables.
Formerly WJBD-AM & FM, the Salem, Ill., properties were included in a NRG Media agreement giving Quass control in November 2013 — a $70 million arrangement that saw Norman Waitt transfer his stake in the company to Cyrus Capital.