Kristin Cantrell is largely known for her role leading Pennsylvania-centric 7 Mountains Media. She also is control of stations under the “radioSOKY” brand, with Southern Belle Media Family LLC the official licensee in the eyes of the FCC.
Pending regulatory approval, two of these FMs, an AM and two FM translators will become part of a collection of Bluegrass State radio properties tied to the CEO of QUU Inc. who is also the former NAB Joint Board Chairman and EVP for Industry Affairs and Strategic Planning.
Cantrell’s group is getting something in return.
A five-pronged asset exchange agreement has been agreed to between Southern Belle and its 7 Mountains arm and the other party involved in the transaction: Steve Newberry-helmed Commonwealth Broadcasting.
Because there are multiple licensee names used by Newberry and Cantrell, the document exhibit submitted for regulatory approval with the Commission may appear confusing.
So, what stations are heading to Newberry’s company from the one led by Cantrell?
- WCLU-AM 1490 and translator partner W276DO in Glasgow, Ky.
- WLLI-FM & WLYE-FM in Glasgow, Ky., which along with W253BN are “Big Willie”
These stations are being transferred to “Newberry Broadcasting” from Southern Belle Media Family LLC. In return, “Southern Belle Bowling Green LLC” is getting the following properties from four separate entities linked to Newberry:
- WPTQ-FM 105.3 “The Point” and W251BT at 98.1 MHz “The Edge” in Glasgow
- WWKU-AM 1450 and W274CD at 102.7 MHz in Plum Springs, Ky.
- FM translators W252CV in Glasgow, and W240CP in Plum Springs, branded as Hip-Hop “95.9 Vibe” and fed off of WOVO HD2. These stations are owned by Charles Anderson and are being dealt to 7 Mountains Media as part of the asset swap agreement.
- WOVO-FM 106.3 in Horse Cave, Ky., a 50kw facility covering Bowling Green and Glasgow that is presently all-Christmas music
Once the dust settles, WOVO, ESPN Radio-affiliated WWKU and Rocker WPTQ “The Point” will join “Beaver 96.7,” Top 40 WUHU-FM 107.1 and Oldies WBGN-AM in the 7 Mountains family.
WCLU and “Big Willie” will now be paired with Commonwealth-controlled Country WHHT-FM, giving Newberry a bigger presence in Glasgow while Cantrell’s group will have a bigger presence in Nielsen Audio-rated Bowling Green, ranked No. 168.
And, Cantrell is paying Newberry $1.5 million to complete the swap. Terms call for Newberry’s Commonwealth to receive $1 million at closing. The remainder will be honored by a Promissory Note bearing 6% interest, payable on a quarterly basis for a five-year period.
WKLX, which is operated under an LMA by Commonwealth, is owned by Anderson and is not involved in this transaction.
Serving as Newberry’s legal counsel in this transaction is Travis Andring of Fletcher Heald & Hildreth.
— Additional reporting by Cameron Coats
