As RBR+TVBR first reported Wednesday, La Crosse Media Group is parting ways with its four FMs and AM serving the Wisconsin market, as the longtime owner is heading into retirement.
Form 314 filings have now been posted by the FCC, and it provides a peek at just how much Pat Smith and his group will pocket from La Crosse’s ownership exit, which involves three buyers, in deals brokered by Kalil & Co.
The first of the three transactions involves Magnum Media, the company formed in 1991 by Dave Magnum that in December 2019 agreed to purchase Class B WFAW-AM and Class B WSJY-FM in Fort Atkinson, Wisc.; and Class A WKCH-FM in Whitewater, Wisc., from NRG Media for $2.7 million.
Magnum is picking up the following stations from La Crosse Media Group:
- Country WQCC-FM 106.3 in La Crosse, a Class C3 facility
- “MeTV FM” Classic Hits affiliate KQEG-FM 102.7 in La Crescent, Minn., a Class C3
- Talk WLFN-AM 1490 in La Crosse, a 1kw non-directional Class C
It is now known that Magnum is paying $1.4 million for the trio.
A $70,000 deposit has been made to La Crosse parent Mississippi Valley Broadcasters. The remainder will be paid in cash at closing.
PRAYZ PAYS
The second deal sees La Crosse selling Class A Hot AC WLXR-FM 104.9, branded as “Magic 105,” to the Prayz Network — under licensee name The Salvation Poem Foundation.
The Prayz Network is a Christian-themed noncommercial offering featuring talk and teaching programs, and two hours of worship music during the midday hours.
It is paying $300,000 for WLXR, with a $15,000 escrow payment being held by the broker of record, Kalil & Co.
LOVIN’ LA CROSSE
The third Form 314 filing reflects the purchase by Educational Media Foundation of Class A Classic Rocker WKBH-FM 100.1 in West Salem, Wisc.
Non-comm network KLOVE will soon arrive at the facility, which EMF is buying for $400,000. A $20,000 escrow payment has been made and is being held at Kalil & Co.
In all, La Crosse Media Group is earning $2.1 million from the station sales.
But, it is also now known that Playz and Magnum reached a side deal, as K250AZ in La Crosse is being purchased by Magnum from Playz for $5,000.
