Road Map Ministries is sending its CP for an FM station-to-be in an unrated portion of Illinois to the Illinois Bible Institute. No cash will change hands – and in a highly unusual arrangement, RMM will receive as compensation an option to buy one of IBI’s up-and-running FMs in the same general area.
The license being sold is for WUNT-FM CP in Sheffield IL. There is some urgency to getting the deal done, since the CP expires 3/24/12. It is for a Class B1 on 88.7 MHz with 8.5 kW @ 417’.
In exchange for the CP, IBI is giving RMM the option to purchase WPRC-FM Princeton IL. It’s a Class A operating on 88.3 MHz with 150 W @ 315’.
Both communities are along the east-west I-80 corridor. Neither is particularly close to an Arbitron-rated market – the nearest rated territory is Peoria to the south.
One thing that will not be changing hands will be the call letters – the rights to WUNT will remain with RMM and the rights to WPRC will remain with IBI.