Lee Family Broadcasting is going from four to six radio stations in the Twin Falls ID area with a deal to by a Jerome ID AM-FM combo from KART Broadcasting Company. In this family transaction, a four-seater closing table with a polar geographic orientation would feature a Lee at each compass point.
According to Greg Merrill of Media Services Group, the buyer’s Kim Lee is the brother of the seller’s Kent Lee. Jami Lee is the other buyer, and Nancy Lee the other seller.
The price will be $650K. $35K will go into escrow, the buyers will invest approximately $223K into settling some debts, and the remainder will be paid in cash at closing.
The seller will cover an $11.4K payment to ratings firm Eastlan for services rendered, with the buyer picking up the tab going forward.
The stations are KART-AM Jerome, a Country station on 1400 kHz and KMVX-FM Jerome, an AC station on 101.9 MHz.
KMVX-FM has contour overlap with the following stations owned by the buyer:
* KFTA-AM Burley ID, a Mexican station on 970 kHz
* KZDX-FM Burley ID, a Hot AC on 93.5 MHz.
* KBAR-AM Rupert ID, a News-Talker on 1230 kHz
* KKMV-FM Rupert ID, a Country station on 106.1 MHz.
According to Merrill, the buyer intends to a local presence throughout the service area, with offices in Twin Falls, Jerome, Rupert and Burley.