Connoisseur Media, headed by Jeffrey D. Warshaw and Michael O. Driscoll, is now officially in control of KRZN-FM, KRKX-FM and KBLG-AM in the Billings MT market, adding them to KPBR-FM and KPLN-FM, according to brokerage Kalil & Co., which handled the deal.
The price was $1.1M, with $800K accounted for in the form of a promissory note. The seller is Cherry Creek Radio.
Connoisseur, which is using the licensee name Mini Me Media, according to documents filed with the FCC, terminated an LMA with KWMY-FM and kicked one off with Cherry Creek’s KYYA-AM. Connoisseur will attempt to sell the latter station for a share in the proceeds. If that hasn’t happened within a year, it will be able to continue the LMA at very reasonable rates.
RBR-TVBR note: Now available RBR-TVBR’s ‘2010’ new guide to help chart a course through the treacherous waters of buying, owning and selling radio or television stations.
Click to purchase: “Profitably Buying and Selling Radio Stations,” or 1-800-288-4677, ext. 5022 for $49.95, paperback, $39.95, e-book.