Radio’s largest station portfolio will be lighter by one once a deal to sell WKBO-AM in the Harrisburg-Lebanon-Carlisle PA market goes to closing – but will anybody on the ground there notice? Likely not – buyer One Heart Ministries Inc. has been operating the station in an LMA since 2001.
One Heart, owned by Peter and Teresa Hamel, will pay $385K for the station, putting $77K into escrow and coming up with the remainder in cash at closing day. Clear Channel is also forgiving up to $150K in LMA fees, assuming that much is still owed when closing occurs. One Heart will pay anything above that amount if necessary.
WKBO utilizes a Religious format.
Clear Channel will continue on with five stations in the Pennsylvania capital, including News-Talk WHP-AM, Sports WTKT-AM, CHR WHKF-FM, Country WRBT-FM and Classic Hits WRVV-FM.
