For most people, the cities of London and Manchester are associated with England. However, they are also municipalities within the state of Kentucky, where an AM with an FM translator and two full-power FMs can be heard.
Pending FCC approval, they’ll soon be in the hands of Karen Moses.
WTBK-FM 105.7 in Manchester, Ky.; along with WKKQ-FM in North Corbin, Ky., and Barbourville-licensed WYWY-AM and W227CD; are being acquired by Moses-led Southern Roots Broadcasting LLC.
The seller is Choice Broadcasting Corp., led by President Jonathan L. Smith.
The deal was finalized on June 5 but not submitted in the FCC’s LMS for regulatory approval until August 1.
The purchase price is a mere $75,000, “to be credited to satisfaction of Seller’s obligation to the Bank toward the Purchase Price under the Settlement Agreement.”
This provides some explanation as to the sale price, as Choice seeks to fulfill its fiscal responsibilities to First State Bank of the Southeast.
Choice will retain certain real estate associated with WYWY, and lease it to Southern Roots.
Serving as Choice’s legal counsel is this transaction is veteran attorney Barry Wood, of Wood & Maines P.C.
For WTBK, the deal with Southern Roots comes nearly five years after a failed transfer of the station to Moses via her Strategic Impact Marketing Consulting Corp. That’s all because of a settlement arrangement involving $191,637.21 in debt, tied to a promissory note that could not be fulfilled by Choice. At the time, WTBK was to have been returned to Manchester Communications, which Choice bought it from, and then transferred to Moses.
Now, 59 months later, that is happening.
