We knew that Cumulus and Townsquare have a complex station sale/swap in the works involving 13 markets, 65 stations and about $116M. But guess what – there’s more: An option that Cumulus can exercise to pick up Townsquare’s four FMs serving the Ft. Collins-Greeley CO market.
Cumulus has 18 months to exercise its option on KTRR-FM, KMAX-FM, KUAD-FM and KKPL-FM, and during that period, Townsquare has promised not to solicit or entertain any third-party offers for the quartet. There is only one way a third-party buyer could get them, and that is to buy Townsquare in its entirety.
The price of the stations, if Cumulus elects to acquire them, will be $10,591,200, to be paid in full in cash at closing. We found no mention of a purchase option payment nor an escrow deposit associated with the deal.
Ft. Collins-Greeley serves the region north of Denver and south of Cheyenne WY.
Here’s a closer look at what’s on the table:
* KTRR-FM Loveland CO is a Class C2 on 102.5 MHz with 17 kW @ 768’. Its 60 dBu signal blankets both named communities in the market.
* KMAX-FM Wellington CO is a Class C3 on 94.3 MHz with 8.7 kW @ 551’. It is oriented to the Ft. Collins side of the market, not making it far enough east to put a primary contour over Greeley.
* KUAD-FM Windsor CO is a Class C1 on 99.1 MHz with 100 kW @ 837’. It provides bonus coverage of Cheyenne and also stretches close to Denver to the south.
* KKPL-FM Cheyenne WY obviously provides bonus coverage of Cheyenne and like KMAX serves Ft. Collins, but its 60 dBu is tangential to but not over Greeley.