Cohen takes stock of Phoenix AM

Ronald E. Cohen was the low man on the CRC Broadcasting totem pole, holding 25% of the company which owns and operates KFNN-AM Mesa AZ, serving the Phoenix AZ market. But it'll be a totem pole built for one once he's through acquiring the stock of two partners. Cohen will pay 1.3M for the 40% share of Michael Ragins, and will add to that a 1.1375M payment for the 35% share of David Lloyd. That brings the total value of the transaction to 2.4375M, while the total value of the station extrapolates to 3.25M.

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