Veteran religious broadcaster Jimmy Swaggart will not have to take on a boatload of debt to finance his latest acquisition, an FM in eastern Texas about 25 miles south of Lufkin. In fact, he may be able to do the deal with whatever happens to be in his wallet on closing day.
A green-hued rectangular piece of paper with an engraving of Alexander Hamilton and references to the number “10” should do the trick. That is the price — $10.00 – that seller Tammy L. Pearce is getting for KYTM-FM Corrigan TX, and she will be getting it in cash. Swaggart’s Family Worship Center Church Inc. will be Swaggart’s licensee name of record.
A TBA was struck related to the deal on 12/29/10 that gives Pearce access to the station for her own programming for at least one hour between the hours of 5AM and 7AM on Sunday mornings, and also permits her to air up to 10 PSAs of up to 60-seconds duration weekly. These requirements are not mentioned only in the TBA contract, not the transactional contract. Both the air time and PSAs are tied to Pearce’s assessment and desire to meet the needs of the station’s listeners, thus fulfilling her role as licensee while the TBA is in effect.
The station is a Class A on 99.3 MHz with 6 kWon a 282’ HAAT antenna.