Swaggart swaggers into three more market
Jimmy Swaggart has bought four stations in three markets in three separate deals. This continues the acquisitive bent his Family Worship Center Church has demonstrated over the past year or so.
Deal 1: Swaggart is getting KTOC AM & FM from Bishop Willis. The stations are in Jonesboro LA, which is located in the center of the state, roughly between Arbitron-rated markets Shreveport, Monroe and Alexandria, while being close to none of them.
Deal 2: Guthrie OK AM station KOKC is coming from Fox Broadcasting for $150K. The station is a few miles north of Oklahoma City, making it the only one in this round in rated environs, not that it matters since as a noncom, Swaggart's listenership isn't reported anyway.
Deal 3: Swaggart will get WSTN-AM, which broadcasts from 1410 kHz out of Somerville TN. The small town is in the western part of the state about 30 miles east of Memphis. It has the appearance of being a deal between two heavy hitters in the televangelism business, as the contract is signed on behalf of seller Fayette County Broadcasting by one "Pat" Roberson. Whoa, you are thinking, until you notice that there is no "t" in Roberson - - it's not the guy from Virginia Beach. Price of the station is $50K.
Brokers: MGMT Services represented the buyer in all three deals. SMN Investments represented the seller in the KOKC-AM deal.