An ownership group led by Randolph McKone is picking up a pair of FMs in small market Oregon. David Capps and his Oregon Trail Broadcasting is the seller.
The stations are KCMB-FM Baker OR and KWRL-FM LaGrande OR.
The buyers have formed two license companies to make the acquisitions, KCMB LLC and KWRL LLC respectively.
The price for KCMB will be $1.25M, including seller paper amounting to $1.16M; and KWRL is going for $750K, including seller paper amounting to $690K. For those of you keeping score at home, that works out to a total of $2M, with $1.85M of it paid in due course.
Randolph McKone has the controlling 51% slice of the buyer. The rest is controlled by Debra McKone (19%), Joseph Costello (15%), Victoria Gandy (12.5%) and Colleen Kaseberg (2.5%).