With properties including “BOB Country,” Milestone Radio has served communities surrounding the Twin Cities such as Faribault, Elk River, and Brooklyn Park. It also serves communities due west of Saint Cloud, including Albany, Minn.
Until now, four full-powered radio stations and an FM translator have been operated by Milestone through an agreement with a trust. Now, Dennis Carpenter is taking on ownership through a newly created entity.
Pending Commission approval, the D.M. Peters Family Trust will be transferring ownership of KLCI-FM 106.1 in Elk River, which serves the northwest portion of Minneapolis-St. Paul, and KBGY-FM 107.5 in Faribault — two-thirds of the “BOB” trimulcast to Carpenter Broadcasting.
The transaction also sees the trust handing Carpenter ownership of Lakes Broadcasting Co.-licensed WLKX-FM in Forest Lake, Minn., serving the northeastern corner of the Minneapolis market; WQPM-AM in Princeton, Minn., to the far north of Minneapolis; and FM translator partner W298CE at 107.5 MHz in nearby Big Lake, Minn.
Those stations are also part of the “BOB” family of Country stations, which are regularly rated in the Minneapolis-St. Paul Nielsen Audio ratings. In fact, “BOB” outranked Audacy’s KMNB-FM, a 100kw Country station serving the Twin Cities, in February 2022.
The total purchase price is $2.2 million, with terms calling for a $200,000 deposit to be made at closing. The remaining amount will be honored via a Promissory Note, bearing 3.5% interest.
Under the new licensee Dennis and Lucas Carpenter will each hold 50% equity interest.
