The station is being bought under the company name Air Capital Media Group LLC.
The price will be $2M. $100K is headed for an escrow account, and an additional $300K will be paid in cash at closing. That leaves the bulk of Smith’s compensation to come over time in the form of a $1.6M promissory note.
Belle Plaine is located to the south of Wichita, but the station’s 99.7 Class C2 signal has more than enough power to blanket the urbanized area. It broadcasts with 50 kW @ 482’.
An LMA is scheduled to begin 5/1/13. ACMG will pay $12.5K to rent the station until the deal closes.