In November 2023, RBR+TVBR first shared the news that Mr. Steven Kushner, professionally known as Steve Kingston, had agreed to a $75,000 purchase of an Annapolis, Md.-based FM translator. Then, in January, came the acquisition of an AM that will join in the expected return of the longtime Adult Alternative WRNR brand to local airwaves, after it became an online only operation in late 2022.
Now, Kingston has added adjusted the ownership mix of the licensee of this AM and the FM translator.
Paperwork filed for regulatory approval from the FCC indicates that Kingston’s ownership in Cortona Media will be reduced from 33.3% to 30%, as the two-thirds ownership held by Kirk Litton and the man professionally known in radio as Jason Kidd, a.k.a. Jason Strovel, will be transferred to an entity known as Triple M Broadcasting LLC.
Triple M will hold 70% interest in Cortona Media, with Triple M’s ownership structure seeing Litton as Managing Member and holding 50.01% equity interest in that entity.
Kidd will no longer be involved with Cortona Media. His ownership shares are being assigned to “FinLinSide, LLC,” and constitute 39.9% of Triple M.
FinLinSide is a 50/50 partnership between Edwin McDonnell and Tracy Donnelly.
Lastly, 10% ownership in Cortana will be held by Kevin Tokarski.
The members of Cortona Media agreed to the restructure with no cash consideration. Now, all that awaits is Commission approval.
Cortona Media is comprised of W260BM in Annapolis, Md., acquired from Hope Christian Church of Marlton Inc. It is awaiting the closing of its purchase of WYRE-AM in Annapolis from Richard Dent.
