Bible Baptist College may be selling its Springfield MO FM station to Radio Training Network, but it will still have a lengthy presence on the station and its new sister. Broker: Greg Guy and Jason James, Patrick Communications
The station is KWFS-FM, licensed to Springfield. It will form a noncom duopoly with KWND-FM, also of Springfield.
The seller is Bible Baptist College Inc., headed by Mark Milioni.
RTN is headed by Chairman Michael Watkins and President/CEO James L. Campbell.
The deal is valued at $1,301,000, including a $40K escrow deposit, $805K paid in cash at closing, and $456K in underwriting spots.
Here’s how the underwriting works: Spots are 30-seconds but can vary by mutual agreement of buyer and seller. There will be 18,240 of them at $25 apiece, to run over the course of six years. They can be run on either KWFC-FM or KWND-FM, and if one ad is requested to run on both, it would count as two ads toward satisfying the agreement.
Both FMs boast fine market coverage. KWFS-FM is the stronger of the two. It’s a Class C on 89.1 MHz with 98 kW @ 1,122’. KWND-FM is a Class C1 on 88.3 MHz with 35 kW @ 633’.
RBR-TVBR observation: This provides yet another piece of evidence for the peaceful co-existence of commercial and non-commercial broadcasters.
What we see here is quantification of the value of underwriting time on a non-profit outlet.
It would not be a particularly good thing for commercial broadcasters if all public funding for noncoms was suddenly cut off and the entire sector floods into the local advertising market seeking operating funds.
We think it is much better to compete with non-profits for audience only, without unnecessarily adding competition for advertising dollars into the mix.