Nearly six months ago, local media reported that a 25kw Class C3 FM serving a rural area to the north of the Twin Cities was being transferred to a new owner.
Now, paperwork at the FCC has finally been filed that confirms the plan.
Who’s the buyer? A longtime owner and operator of radio stations in Minnesota.
As expected, Alan Quarnstrom and his Q Media Properties are moving forward with the purchase of a station it is operating under an LMA — KBEK-FM “Nice 95.5” in Mora, Minn.
The sellers is Mary Lodin‘s Manlo Properties.
A $295,000 purchase price has been agreed upon — perhaps the lone new news to locals who first heard of Quarnstrom’s plan to take on KBEK in late October 2020.
A $15,000 escrow deposit was made in February 2021 by Quarnstrom. The remainder is due at closing.
Representing Quarnstrom as the exclusive broker in this transaction is Phoenix Media Group LLC.
Lodin was represented by Anne Goodwin Crump of Fletcher Heald & Hildreth. The buyer’s legal counsel was Aaron Shainis of Shainis & Peltzman.
With KBEK, Quarnstrom will add his radio station stable to seven properties. Lodin, along with partner Jay Mankie, have operated KBEK since 2014. It signed on the air in 1995.
Under Quarnstrom, which assumed control via a Time Brokerage Agreement effective Nov. 1, 2020, KBEK is back in Mora; the studio returned to the city of license after KBEK had focused on Braham, Minn., under Lodin and Mankie.
Quarnstrom acquired stations from NRG Media in 2007, and in 2010 from Dean Sorenson.
