Educational Media Foundation’s acquisition appetite for K-LOVE shows no signs of slowing down. The latest in a near-constant run of buys, the Tennessee-based Christian Contemporary Music powerhouse has its sights on the Prairie State, where a small-market country station has found itself caught between financial pressures and ownership changes.
The Tennessee-based Christian Contemporary Music giant has agreed to purchase WXFM-FM 99.3 in Mount Zion, Ill., from Technicom Inc. for $125,000. The transaction awaits FCC approval, with K-LOVE having placed a $6,250 deposit to secure the deal.
The Class C3 facility, which has been silent since July due to financing and staffing challenges, according to FCC filings, serves the Decatur market in central Illinois. Anna Lee Burns, President of Technicom, is the seller in this transaction.
WXFM had been operating as a locally-owned country music station before going dark earlier this year under a Special Temporary Authority that runs through December 31.
There are no brokers listed in the transaction.
Once again representing K-LOVE before the FCC is Paige K. Fronabarger with Wilkinson Barker Knauer. Legal counsel for Technicom includes John S. Neely of Kensington, Md., and William McNutt with Moore, Susler, McNutt & Wrigley of Decatur.
