Unless a full-bore Class A FM is your idea of a blowtorch, KFNS-FM is not a big stick in the technical sense, but it is owned by Big Stick LLC – at least until the sale of the station to Westplex Broadcasting goes to closing.
Big Stick is headed by Andrew Saltzman, and he stands to pick up at least $480K from the sale of the Troy MO station to Westplex, headed by John Scheper and Steve Kaspar.
Troy is some distance to the northwest of St. Louis, and it’s not far from Warrenton MO, where the buyer has a stake in KWRE-AM and KFAV-FM. The stations will combine to form a one-AM, two FM cluster.
In addition to the $480K, which is payable in cash, Westplex will pay $5K plus expenses to LMA the station prior to closing.
And there is still one more chapter to the compensation story, although its magnitude is not expected to send ripples on Wall Street, or even on the main street in Troy. Saltzman is retaining the rights to the KFNS call letters for 30 years. However, he apparently has no plans to use the calls immediately, so Westplex may lease them for its own use for a grand total of one dollar per year.
