He founded Oklahoma City-based SMN Investments in 1998, and across nearly a quarter century has made several investments in real estate, banking, media, oil and gas, and healthcare.
Now, through his WPA Radio LLC, Stanton Nelson is shedding an AM serving Oklahoma’s biggest market and an FM presently home to Oklahoma Catholic Broadcasting.
Two asset sale agreements were filed with the FCC on Monday, each of which seek the Commission’s approval to spin the properties to two separate buyers.
In the first deal, WPA Radio is agreeing to part ways with religious KKNG-FM 97.3 in Blanchard, Okla.
KKNG is a 1kw Class A serving Norman, Okla., and has limited coverage of Edmond and northern areas of the Oklahoma City metropolitan area.
The seller is … KKNG Radio, led by Mark Whitten.
A $1.05 million purchase price was agreed upon; this includes $5,000 in accounts receivable.
There is no escrow payment needed, with John C. Trent serving as the seller’s legal counsel in this transaction.
KKNG is presently tied to Oklahoma Catholic Radio.
In the second transaction, Nelson’s WPA Radio is selling KTLR-AM 890, a Class D daytimer that must protect WLS-AM in Chicago after dark.
The buyer is Tyler Media, the family-held broadcasting company based in Oklahoma City.
Terms of the purchase were not available at press time as the Asset Purchase Agreement filed with the FCC contained file format errors and could not be opened by RBR+TVBR.
