On July 19, RBR+TVBR reported on the completion of a Spokane transaction that saw the sale of an AM and FM by the Warner Tillman-led Legend Broadcasting.
Just eight days later, the entity that purchased those properties is spinning the FM — along with its four boosters — to a “growing Christian” broadcast ministry.
KNHK-FM in Newport, Wash., with boosters in Spokane, Colville, and Chewelah, Wash., and in Sandpoint, Idaho, is being spun by Xana Oregon, the Tom Hodgins-led licensee.
The buyer is Growing Christian Foundation, which will assume control of the station formerly known as Country “HANK FM.”
Xana is earning $250,000 from the sale; it paid $395,000 for KNHK plus two other properties: KYOZ-AM in Spokane and FM translator K239CL in Spokane.
A 10% escrow deposit has been made to Hodgins by the broadcast ministry. The remainder will be paid in full, in cash, at closing.
Terms also call for the foundation to enter into a lease agreement with XANA for the KNHK tower site.
Serving as XANA’s broker in this transaction is MCH Enterprises. Its legal counsel in this transaction is Mark Denbo of Smithwick & Belendiuk.
