High Plains Radio Network, LLC, of Plainview, Texas is expanding into a third state.
High Plains owner Monte Spearman recently acquired a 3 FM station cluster in Mt. Home, Arkansas.
Now, High Plains is acquiring another trio of FM facilities, this time in Altus, Oklahoma. The stations are: KEYB-FM, KJOK-FM and KKRE-FM.
The seller is Altus FM Inc., owned by Paul and Scott Wilmes, who have no other broadcast holdings.
The total purchase price is $750,000, with $600,000 for the assets at closing and $150,000 in a three-year consulting agreement.
Including pending deals, High Plains Radio Network, LLC also has ten AM and FM stations in west Texas, serving the Plainview and Lubbock markets.
Bill Whitley and Bill Cate of Media Services Group were exclusive brokers of the transaction. Whitley represented the seller, and Cate represented the buyer.