It is building a new station in Little Rock, the company says. It likely involves Rock music, and it will be replacing the Gospel programming on two FM translators and an AM radio station it is acquiring in a freshly filed deal awaiting FCC approval.
Who’s the seller? It is Salem Media Group.
With Kathleen Kirby at Wiley Law serving as Salem’s legal counsel, the company continued its exit from Arkansas’ state capital by agreeing to sell KZTS-AM 1380 in North Little Rock, and Little Rock-licensed K288EZ and K277DP, to JCS Media LLC.
That’s the entity led by John Stephens, and a visit to the JCS Media website indicates that a Classic Rock, Talk and Sports mix is in the fold for the trio of broadcast facilities as “ZRock” once his group assumes control.
If his name is familiar, it is because he associated with Stephens Inc., a broadcast media analyst house headquartered in Little Rock.
According to an Asset Purchase Agreement submitted for regulatory approval on Wednesday, a $700,000 price was agreed up on August 14. A $70,000 escrow deposit is being held by Jorgenson Broadcast Brokerage Inc.
At present, the stations are known as “Rejoice,” which use Class B KZTS as an originating signal for a westside FM signal at 103.3 MHz and a North Little Rock-based signal at 105.5 MHz. “Rejoice” debuted in September 2018, after Salem acquired the 105.5 MHz FM translator and KZTS (formerly KDXE-AM) in a $180,000 purchase from NC Communications, led by Nidia Cochran. Under NC ownership, the facilities aired a Hip-Hop format, and had originally agreed to sell KDXE and K288EZ to Monte Spearman’s High Plains Radio Network. That deal was never consummated.
The sale of the stations comprising “Rejoice” follows the August 5 announcement that Educational Radio Foundation of East Texas, doing business as Encouragement Media Group, has agreed to acquire KKSP-FM 93.3 in Bryant, Ark., for $1.55 million. The station has served Little Rock with Christian Contemporary music as “The Fish.”
