Detalus Consulting LLC, the court appointed receiver for Grand Slam Sports LLC. Both Detalus and Triad Bank have applied to sell KFNS.
The buyer is Markel Radio Group LLC.
KFNS is a Class B AM in Wood River, Ill. authorized to broadcast with 1,000 watts on 590 kHz. The station has a directional antenna and uses 4 towers day/3 towers night.
A court in September ordered the receiver to sell or otherwise dispose of the GSS assets. Paperwork filed with the FCC earlier this month stated the bank intends to foreclose on GSS. In addition to commission approval, the court needs to approve the deal as well.
The purchase price is $250,000 to be paid by wire transfer at closing. Markel will also pay an additional $50,000 for the transfer of the FCC license and deposit $40,000 in escrow.
The sale includes the tower, transmitter and ST and other gear, such as EAS and Nielsen PPM encoding equipment.
