Duane D. Butt is the principal of Dakota Communications Ltd., which is selling KXLG-FM Milbank SD, a station in an unrated portion of the state near its border with Minnesota. He’s selling it, in part to himself – he will hold a 30% stake in the buyer.
The purchasing entity is TMRG Broadcasting LLC. Robert Faehn holds 40%, as mentioned above, Butt will have 30% and so will third principal Dean Sorenson.
The price for the station is $500K — $100K has already been paid in exchange for the option to buy the station, which is being exercised, and the remaining $400K will be due in cash at closing.
TMRG will have no learning curve whatsoever when it comes to operating the station – it’s been running it in an LMA based on a contract dated 8/26/09.
The station is a Class C2 on 99.1 MHz with 37 kW @ 548’.
Between them, the principals of TMRG own numerous Midwestern radio stations.
