A pair of FM stations is being sold in an unrated territory where southern Missouri meets up with northern Arkansas. When all is said and done, Diamond Media LLC will have stations with a good bit of contour overlap.
The stations are KHOM-FM Salem AR and KBMV-FM Birch Tree MO. Diamond, headed by Arch B. Watson and Thomas M. Ladd, will pay $965K for the stations. The bulk of that will be in cash — $710K to be exact – and the remaining $255K will be paid pursuant to terms of a promissory note.
In addition to the stations, Diamond will be a Dodge Caravan.
A TBA/LMA is contracted to begin 8/1/11, and the parties agree that 9/4/11 is the buyer’s target date to flip both stations to a Sports format with the seller’s blessings.
The seller is Three Rivers Communications LLC, headed by Fred and Barbara White.
KHOM is a Class C2 on 100.9 MHz with 50 kW @ 492’.
KBMV is a Class C3 on 107.1 MHz with 25 kW @ 328’.