In July 2019, a bail bondsman and business consultant who switched political parties to become a Republican in a failed 2014 Congressional bid agreed to purchase a pair of AMs and their respective FM translators serving St. Louis.
That deal never closed, and a new buyer has emerged. But, one of the translators isn’t being dealt this time around.
East Central Broadcasting, headed by Buzz Eckelkamp, has agreed to purchase the following properties from licensees associated with Bert Kaufman.
- Class B KXEN-AM 1010 in St. Louis and unbuilt FM translator K264CY at 100.7 MHz – “Real Talk,” a conservative Talker.
- Class B WGNU-AM 920 in St. Louis, presently airing a Sports Betting and Wagering format
The purchase price is $210,000, and a $30,000 downpayment has been made to Kaufman. At closing, Eckelkamp will initiate a Promissory Note in the amount of $180,000 bearing 8% interest, paid monthly over a four-year period. The note is secured by a Personal Guaranty of Eckelkamp.
Excluded from the sale are FM Translators K283CI at 104.5 MHz and K295CQ at 106.9 MHz in St. Louis. These were included in the failed 2019 transaction, which saw Paul Berry III agree to acquire them along with the other properties for a much-higher pre-COVID valuation of $650,000.
A $50,000 downpayment was made to Kaufman’s BDJ Radio Enterprises by Berry, who is the nephew of Ladue, Mo. resident Chuck Berry, the rock and roll legend.
At closing, two promissory notes — each in the amount of $100,000 — were to be executed. One note was to bear a 6% interest rate, paid through quarterly principal payments of $12,500 plus accrued interest starting Jan. 1, 2020. The other had a 7% interest rate, with payments starting Jan. 1, 2022.
It is not known as to why the Berry deal was not consummated.
Meanwhile, Eckelkamp is not acquiring the Cole Street Tower Site, the land associated with WGNU’s five broadcast towers.
With respect to programming, “Real Talk” isn’t changing. That’s because the buyer owns simulcast partner KRTK-FM 93.3 in Hermann, Mo.; KRTE-FM 107.3 in Steelville, Mo.; and KVMO-FM 104.3 in Vandalia, Mo.
Other properties include Class A KWUL-FM in far-suburban Elsberry, Mo., which airs a “Rock-n-Americana” radio format.
