Clear Channel, via its station overage holding company Aloha Station Trust, is spinning KFMK-FM to a religious broadcaster that hitherto restricted its operations to Washington State. And the contract contains a bit of good news for Clear Channel/Aloha employees in Austin.
According to the contract, the seller’s employees in this case are expressly unavailable to the buyer, without written permission, for a period of one year. That’s good news for existing employees – usually the impact on employment is a transfer to the new company or a job loss. But of course, that clause is no guarantee that no jobs will be lost.
It’s absolutely good news for radio workers on the other side, however. The buyer, Crista Ministries, will have to do some hiring to staff the station.
KFMK-FM, licensed to Round Rock TX, is going for $6.25M cash. It came on the market when Clear Channel changed its ownership structure and lost grandfathered status for a number of oversized local clusters.
Crista, headed by Deborah Limb, Robert J. Lonac and Stan Mak, owns KCIS-AM & KCMS-FM in Edmonds WA, and KWPZ-FM Lyndon WA.
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