Just past 7:20am local time on Monday, a trio of FM signals serving a popular Colorado ski resort region were heard playing tunes from Post Malone and The Weeknd; Todd Rundgren; and Zac Brown Band.
Will this continue in 2022, as the three radio brands are being spun to a new ownership group?
That’s a question some may be asking, as BS&T Wireless has signed an agreement that will see the sale of a group of Rocky Mountain signals to William Dale Conn III, Michael Waters and David L. Johnson.
The stations are Class A KGHT-FM “Hot 100.5,” a Top 40 licensed to El Jebel, Colo., and covering Aspen and Snowmass Village; Class C3 Classic Hits KTND-FM 93.5, licensed to Aspen, where it also uses K261EG at 100.1 MHz; and “Cat Country 93.1,” fed off of KTND’s HD2 signal and heard via K226BU in Aspen, K226BV in Snowmass Village, and K226CD in Glenwood Springs.
The three individuals are one-third owners of Roaring Fork Broadcasting Co. It has agreed to a $175,000 purchase price. Terms see Roaring Fork making a $45,000 deposit last week, and is agreeing to the payment of the remaining purchase price by way of a Promissory Note. This will be executed by delivery of a Note to each of the three owners in Roaring Fork, with each Note valued at $43,333.33.
The first year of the Note will bear an applicable federal rate (0.22% annually as of November). After 12 months, there will be a 5% annual interest rate, enforced until the Notes are paid in full.
No payments are due until the start of the 13th month of ownership. At that time, a $1,500 monthly payment is to be paid.
Interestingly, the asset purchase agreement notes that music licensing agreements with ASCAP, BMI, SESAC, GMR and SoundExchange are excluded assets.
The seller is led by “Simon T,” who holds a Santa Monica, Calif., address. His legal counsel in this transaction: Meredith Senter of Lerman Senter PLLC. The legal counsel for the buyer is John Wells King, of Jacksonville, Fla.
