Done deal in Springfield


SoldThere are Springfields everywhere – one can hardly toss a dart at a map of the USA without hitting one of them. This one, where KWFC-FM was sold, is in Missouri. Brokers: Greg Guy and Jason James, Patrick Communications.

The seller is Baptist Bible College, headed by President Mark Miloni.

The buyer is Radio Training Network Inc., headed by President James Campbell.

The price is $1,301,000. The compensation package included a $40K escrow deposit, $805K paid in cash at closing, and $456K in underwriting spots.

Here’s how the underwriting is set up: Spots are 30-seconds but can vary by mutual agreement of buyer and seller. There will be 18,240 of them at $25 apiece, to run over the course of six years. They can be run on either KWFC-FM or KWND-FM, and if one ad is requested to run on both, it would count as two ads toward satisfying the agreement.

Both FMs boast fine market coverage. KWFS-FM is the stronger of the two. It’s a Class C on 89.1 MHz with 98 kW @ 1,122’. KWND-FM is a Class C1 on 88.3 MHz with 35 kW @ 633’.

The station uses a Southern Gospel format.