This is a tale of two South Dakota-based broadcasters. One has recently been in the news for its desire to refocus its efforts on markets closer to home.
The other is now making headlines for opting to exit radio ownership by parting ways with all of its Rapid City-based properties in a deal brokered by Jason James and Susan Patrick at Patrick Communications.
Technically, three separate licensees are selling their stations. They are New Generation Broadcasting, Western South Dakota Broadcasting and Duhamel Broadcasting Enterprises.
All operate under the Duhamel name, at least for now.
An Asset Sale Agreement was filed Friday (1/4) with the FCC that shows the following stations being sold:
- Class B News/Talk KOTA-AM 1380 and FM translators K264CP, K278AN and K278AM
- Class C Rocker KDDX-FM 101.1
- Class C1 Classic Hits KQRQ-FM 92.3
- Class C1 Hot AC KZLK-FM 106.3
- Class C Country KZZI-FM, licensed to Belle Fourche, S.D., and FM translator K242BK
The buyer is Carolyn Becker-led Riverfront Broadcasting, based in Yankton.
Riverfront is paying $3.6 million for the stations. A $270,000 escrow deposit has been made to Duhamel.
Serving as Duhamel’s legal counsel is Lauren Lynch Flick, a senior counsel at Pillsbury Winthrop Shaw Pittman.
Riverfront will likely pay for the Duhamel group with some of the proceeds from two recent sales it struck. On Dec. 28, Riverfront said goodbye to an AM-FM combo in Webster City, Iowa, in addition to an FM translator in this city and an AM in Boone, Iowa.
In June, the licenses of Class A Classic Hits WCEZ-FM 93.9, licensed to Carthage, Ill., and Class B Classic Country KOKX-AM 1310 in Keokuk, Iowa were transferred from Riverfront Broadcasting to Keokuk Broadcasting.
That sale saved the stations from going dark under an STA, as financial strains and the distance between Keokuk and Yankton, S.D., was too great for Becker to maintain.