Noncom religious frequent station buyer Educational Media Foundation has kicked off the new year by filing two more contracts with the FCC applying to acquire stations. The more significant of the two will bring in a pair of Knoxville TN FMs; the other is for an FM in St. Joseph MO.
EMF is one noncommercial group that is very comfortable operating on either side of the FM band commercial-noncommercial divide bisected by the 92 MHz line. All three of the current acquisitions are on the noncommercial side of the line in what the FCC refers to as the reserved band.
The Knoxville deal is for WYLV-FM Alcoa TN and WDLF-FM Maynardville TN. The stations are being sold by Foothills Broadcasting Inc., headed by Thomas H. Moffit Jr. and John L. Moudy. Broker John Pierce, who handled the deal, pegs its value of at $4M. According to the contract, $750K of that will be cash and $3.25M will come over time under terms of a promissory note.
WYLV-FM is a Class C2 on 89.1 MHz with 1.6 kW @ 1,483’, and WDLF-FM is a Class C2 on 88.3 MHz, and packs the stronger punch of the two, with 2.85 kW @ 1,490’. The stations are co-located, according to their geographical coordinates.
EMF, headed by Mike Novak, has entered into a network affiliation agreement pending closing, the group’s version of an LMA. The agreement put EMF’s K-LOVE and AIR-1 networks on the stations on the first of the year.
The St. Joseph MO deal is for KSRD-FM, a Class C3 station abutting the commercial zone at 91.9 MHz. It has 10 kW off a 492’ HAAT stick, and is being sold by Horizon Christian Fellowship for $125K. EMF will pay cash for this one.