The frequent buyer program of Educational Media Foundation remains in operation. It’s latest move is the acquisition of WEZG-FM Morganfield KY, marking yet another foray into commercial territory for the non-profit religious broadcaster. The seller is Union County Broadcasting Company, and the price is 1.4M. As is its frequent custom, EMF is splitting the price between cash and a note, with $70K going into escrow, an additional $355K paid at closing and $975K paid over time. A network affiliation agreement kicked in 9/15/08. Morganfield is in the northwest corner of the state; the closest Arbitron market is Evansville IN.
