On October 31, RBR+TVBR first reported on the sale of a Rock station serving Bangor formerly owned by acclaimed author Stephen King, by Rock Lobster Radio LLC. On Monday, details of the deal that will see Mix Maine Media owner and President Jay Hanson add the FM to his stable of stations were revealed.
With Brad Deutsch at Foster Garvey serving as Hanson’s legal counsel and Mark Denbo of Smithwick & Belendiuk representing the seller, Mix Maine through “J. Hanson Company Inc.” is agreeing to pay $900,000 for WKIT-FM in Brewer, Me.
That’s according to a Form 314 filing made public by the FCC on Monday. Terms call for Mix Maine to make a $25,000 deposit, and at closing an initial $25,000 payment will be credited against the total dollars owed.
The remaining $850,000 will be honored by a Promissory Note with a nine-year term and six-month grace period applicable upon closing.
A 6% fixed interest rate is in place, with a $50,000 payment due on January 1, 2027, in addition to the regular monthly payment; and $50,000 due on January 1, 2029, in addition to the regular monthly payment.
Serving as Rock Lobster Radio’s broker of record is CMS Station Brokerage, led by Roger Rafson.
“When an opportunity arises to enhance your position in a market you love, you move quickly,” Hanson said on October 31, a day before his company assumed control of WKIT via a Lease Management Agreement. “We couldn’t hesitate on a heritage station featuring legendary talent, on and off the air, as well as owners who are emotionally invested in the station’s future success. Our passion for local radio, shared by WKIT’s present team, will continue to win for its listeners and advertisers.”
WKIT was acquired by Rock Lobster for $500,000 from The Zone Corporation, controlled by acclaimed author Stephen King. It was a lifeboat for the Rock station.
King in December 2024 revealed to local media that “losses in the millions” and his “advancing age” were the primary reasons why he decided to shut down his three Bangor, Me., radio stations, concluding 41 years of service at the end of 2024.
The fact that WKIT has landed in the hands of Hanson may be logical: Mix Maine Media in February emerged as the entity that agreed to purchase WZON-AM 620 “Retro Radio,” a Class B with 5kw daytime/620 watts nighttime from 1 tower across from Bangor High School and Class A Adult Alternative WZLO-FM 103.1 in Dover-Foxcroft, Me., which simulcasts on W252CT at 98.3 MHz in Bangor, is now known.
Mix Maine Media parent J. Hanson Company paid $125,000 for the two properties.
