Colorado Media Newsroom
August 5th, 2022, 05:31 PM
From Radio Insight:
https://radioinsight.com/wp-content/images/2021/02/knts-200x200.pngSalem Media Group is selling two of its AMs in Seattle.
Catholic network operator Relevant Radio (https://relevantradio.com) has purchased 1590 KLFE Seattle for $500,000. Salem moved its Conservative Talk “The Answer (https://theanswerseattle.com)” programming on August 1 (https://radioinsight.com/headlines/235630/the-answer-moves-in-seattle/) to pending acquisition 1300 KKOL Seattle, paving the way for Relevant Radio to begin an immediate Time Brokerage Agreement. KLFE operates with 20kW day and 5kW night.
Mohan Cheema and Sukhdev Singh Dhillon’s Baaz Broadcasting will acquire Regional Mexican “La Patrona 1680 (https://lapatrona1680.com)” KNTS Seattle for $225,000. The 10kW day/1kW night AM will two other AMs in the market held by the buyers principles: Akal Media’s 1250 KKDZ Seattle and 1560 KZIZ Pacific. Both stations operate as South Asian “Radio Punjab (https://www.facebook.com/RadioPunjab)“.
In the sale filings, Salem requests a waiver as KNTS is the expanded band replacement for KLFE. As the FCC has yet to act for years on its long-pending plan to force operators of expanded band AMs to choose either the newer license or the original to retain while surrendering the other, Salem states that Relevant Radio “has elected not to pay an additional purchase price for a station that does not fit its business model. Rather than deactivate the operating expanded band station and turn in its license as the rule would require, Inspiration seeks to promote diversity of broadcast ownership by selling that station to a minority-controlled buyer at a below-market price. Given the limited number of remaining standard/expanded band pairs and the exceedingly modest band-improvement impact that the three decade-old expanded band plan has had as a whole, the public interest is far better served by enhancing minority ownership in broadcasting than in strict adherence to the AM expanded band rules.” Salem also states, “while KNTS is an operating station with value, Inspiration has commissioned an independent appraisal of KNTS and can certify that the $225,000 purchase price that Baaz will pay for the station is less than 50 percent of its fair market value.”
Following the divestments, Salem will retain Christian Preaching “820 The Word (https://thewordseattle.com)” KGNW Burien-Seattle and has its acquisition of KKOL (https://radioinsight.com/headlines/209919/salem-reacquires-kkol-seattle/) pending.
more (https://radioinsight.com/headlines/236511/salem-sells-two-in-seattle/)
https://radioinsight.com/wp-content/images/2021/02/knts-200x200.pngSalem Media Group is selling two of its AMs in Seattle.
Catholic network operator Relevant Radio (https://relevantradio.com) has purchased 1590 KLFE Seattle for $500,000. Salem moved its Conservative Talk “The Answer (https://theanswerseattle.com)” programming on August 1 (https://radioinsight.com/headlines/235630/the-answer-moves-in-seattle/) to pending acquisition 1300 KKOL Seattle, paving the way for Relevant Radio to begin an immediate Time Brokerage Agreement. KLFE operates with 20kW day and 5kW night.
Mohan Cheema and Sukhdev Singh Dhillon’s Baaz Broadcasting will acquire Regional Mexican “La Patrona 1680 (https://lapatrona1680.com)” KNTS Seattle for $225,000. The 10kW day/1kW night AM will two other AMs in the market held by the buyers principles: Akal Media’s 1250 KKDZ Seattle and 1560 KZIZ Pacific. Both stations operate as South Asian “Radio Punjab (https://www.facebook.com/RadioPunjab)“.
In the sale filings, Salem requests a waiver as KNTS is the expanded band replacement for KLFE. As the FCC has yet to act for years on its long-pending plan to force operators of expanded band AMs to choose either the newer license or the original to retain while surrendering the other, Salem states that Relevant Radio “has elected not to pay an additional purchase price for a station that does not fit its business model. Rather than deactivate the operating expanded band station and turn in its license as the rule would require, Inspiration seeks to promote diversity of broadcast ownership by selling that station to a minority-controlled buyer at a below-market price. Given the limited number of remaining standard/expanded band pairs and the exceedingly modest band-improvement impact that the three decade-old expanded band plan has had as a whole, the public interest is far better served by enhancing minority ownership in broadcasting than in strict adherence to the AM expanded band rules.” Salem also states, “while KNTS is an operating station with value, Inspiration has commissioned an independent appraisal of KNTS and can certify that the $225,000 purchase price that Baaz will pay for the station is less than 50 percent of its fair market value.”
Following the divestments, Salem will retain Christian Preaching “820 The Word (https://thewordseattle.com)” KGNW Burien-Seattle and has its acquisition of KKOL (https://radioinsight.com/headlines/209919/salem-reacquires-kkol-seattle/) pending.
more (https://radioinsight.com/headlines/236511/salem-sells-two-in-seattle/)