We just finished reporting that Mortenson Broadcasting was going from five to four AMs in Dallas-Fort Worth. Now we must report that its dropping to three AMs, and spinning off its FM translator as well. This time the buyer is a license company under the umbrella of Salem Communications Corporation.
The new station on the block is KTNO-AM University Park. It is being spoken for by Inspiration Media of Texas LLC, the licensee name being employed by Salem. Stuart W. Epperson and Edward G. Atsinger III sit atop the Salem organizational chart. Also included in the deal is Mortenson’s 102.5 MHz translator K273BJ.
The price will be $2.2M cash. A TBA is for the station is scheduled to kick off 11/1/10, as well as a Rebroadcast Consent Agreement that will allow KTNO’s programming to be heard on the 102.5 MHz facility.
KTNO is a Class B on 1440 kHz with 50 kW-D, 350 W-N, DA2. According to the BIA market report submitted to support local ownership cap compliance, it is a Spanish Christian station.
It joins a cluster that includes Contemporary Christian KLTY-FM, a Class C on 94.9 MHz; Christian Talk KWRD-FM, a Class C on 100.7; and News/Talk KSKY-AM, a Class B on 660.
There’s one more station in the mix: Salem runs Business News KVCE-AM 1160 in an LMA with Dallas Broadcasting LLC. The LMA began 1/1/11. Salem also holds an option to acquire the station for $5M.
The Salem deal was filed with the FCC 10/21/11; just the day before, Mortenson filed to sell KRVA-AM Cockrell Hill (also in the Dallas-Fort Worth market) to Pacificstar Media II Corporation for $1.4M cash.
Mortenson will be left with KHVM-AM 970, KGGR-AM 1040 and KGGM-AM 1630 once the sales to Salem and Pacificstar are consummated.