A Class A FM straddling the North Dakota-Minnesota border and its Class C AM sibling have been sold to a “13G” local buyer.
But, the buyer and the seller aren’t exactly unfamiliar with one another: They are both members of the Ingstad family.
In a deal with a total value of $925,000, 13G Media LLC is acquiring KBMW-AM 1450 & FM 92.7 in Breckenridge, Minn., from Radio Wahpeton Breckenridge LLC.
The stations serve the Minnesota community and nearby Wahpeton, N.D., located to the south of Fargo, N.D. KBMW-AM’s signal also reaches the Lake Traverse Reservation in South Dakota.
The seller and owner are connected by family: The seller is led by Brooke Ingstad, while the buyer is fronted by Robert J. Ingstad.
However, Ingstad is a one-third owner of 13G, with equal partnership shared with Tallie Colville and Todd Ingstad.
To complete the purchase, the entity controlled by Robert and Todd Ingstad and Tallie Colville has entered into a promissory note covering the full amount of the purchase price. It is amortized over a period of 180 months with a rate of 3% interest for the first 144 months and 6% for the final three years of the note’s term.
The first payment is for $6,387.88.
RBR + TVBR RELATED READ:
Janice Ingstad-Owned Stations Pass On
How Ingstad Siblings Keep Up Tradition in N.D. Deal
In other TRANSACTIONS TODAY:
- Pollack Companies has closed on its $3 million acquisition of WCGO-AM 1590 in Chicago from Kovas Family Gst Trust, headed by Trustee Joseph W. Walburn. This deal was initially reported by TRANSACTIONS TODAY on May 10. The deal was brokered by Dick Foreman of Richard A. Foreman Associates.
- Townsquare Media has completed its purchase of 6 radio stations and two FM translators in Pittsfield, Mass., from Gamma Broadcasting LLC and Berkshire Broadcasting Co. RBR+TVBR reported on July 7 that Townsquare is acquiring WBEC-FM 95.9, WBEC-AM 1420, WUPE-AM 1110, and an FM translator broadcasting at 94.1 from Gamma, and is also acquiring the capital stock of Berkshire Broadcasting Co., owner of WUPE-FM 100.1, WNAW-AM 1230, WSBS-AM 860, and an FM translator broadcasting at 103.3. Kalil & Co. served as the sellers’ broker in this transaction.
- As noted in RBR+TVBR‘s social media feeds on Thursday (9/28), the $5.3 million sale of WNKN-FM 105.9 in Middletown, Ohio, from Northern Kentucky University to Grant County Broadcasters is now complete. Kalil & Co. was the exclusive broker in this deal.
- Low power TV station W05DC-D in Myrtle Beach, S. Car., is being sold by Spirit of Prayer Ministries to Better Health Media for $20,000. A $3,000 deposit has been made to the seller.
- In a $40,000 deal, FM translator K261ES is being sold to Las Vegas Broadcasters to American Educational Broadcasting Co. for $40,000. The translator is the former K247AX in Tonopah, Nev., which is moving to the city of Las Vegas. The transaction is a technicality, of sorts, as Carl Auel serves as President of both entities. The translator is licensed for broadcast at 100.1 MHz, from a directional tower at Buffalo Dr. and Charleston Ave. sending a signal to the northeast, and is to be used to rebroadcast KKVV-AM 1060, which airs a Christian Talk and Teaching format.
