Serial station acquirer Educational Media Foundation has a deal to buy KKAT-FM, serving Salt Lake City from its licensed home in Orem UT, from a trust established by Citadel Broadcasting Company to warehouse it after a different transaction turned it into surplus inventory.
The station is being sold for Citadel by Wasatch Radio LLC as Trustee, under the care and feeding of Scott Knoblauch. Educational Media Foundation has the option of paying $5.75M for the station and include a $3.75M promissory note in the compensation package, or pay $5.5M with the entire amount turned over in cash on closing day.
KKAT-FM became one FM stick to many for Citadel when it reacquired KHTB-FM from 3 Point Media, one of the properties owned by the troubled radio empire of Christopher F. Devine. Citadel had helped 3 Point acquire the station and KENZ-FM from Clear Channel, eventually winding up with both while spinning KKAT to Knoblauch’s trusteeship.
EMF will take the station noncom, and will operate it under a network affiliation agreement – a form of LMA – until closing. It already has KNKL-FM North Ogden in the area.
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