A Class C2 FM serving the city where retail giant Walmart is based has just been sold for more than $1 million.
That’s the king deal in RBR + TVBR’s TRANSACTIONS TODAY for Friday, April 21.
The other deal involves Christopher Miller’s Rocking M Media, and its entry into Southern California.
In a deal valued at $1.15 million, KBVA-FM 106.5 in Bella Vista, Ark., has been sold to Jay Bunyard’s Hog Radio Inc. by Hendren Communications, led by President Gayla Joy Hendren-McKenzie.
Jason James of Patrick Communications served as the exclusive broker in this transaction.
KBVA airs an Adult Contemporary format, and boasts a HD2 “Next” format focused on up-and-coming AC acts.
The station’s 37kw signal reaches Bentonville, Ark. – home of Walmart – and the Fayetteville, Ark., market.
A $69,000 earnest money deposit is being made by Bunyard to Hendren-McKenzie via escrow agent Patrick Communications.
Bunyard’s legal counsel is this transaction was Frank Jazzo of Fletcher Heald & Hildreth.
In other TRANSACTIONS TODAY:
- Banning Radio has agreed to sell a SoCal AM and its FM translator to Christopher Miller’s Rocking M Media – mainly known for its Kansas multimedia properties. For an undisclosed price, Rocking M is acquiring KMET-AM 1490, a 1 tower 1kw facility licensed to Banning, Calif., and Beaumont, Calif.-based translator K259BJ with a CP for 98.1 MHz. The stations cover a portion of the Inland Empire, and the Riverside-San Bernardino radio market. Gammon Miller, of which Mr. Miller is a partner, served as the broker in this transaction.