Jonathan L. Smith and his Lincoln Garrard Broadcasting Company have inked an agreement with Randy Michaels and his RadioActive LLC which will send two Kentucky FM CPs into an LMA with Smith, who will then have the option to acquire them in 2010. According to broker Jay Meyers of Cavalry Media Services, the purchase price, it activated, will be 760K. The CPs are in Broadhead and Mt. Vernon. According to Meyers, this will mark a return to radio in the area for Smith, who is now an attorney operating out of Chicago but who signed on WXKY-FM in central Kentucky back in 1967 before selling it in 1995 to Educational Media Foundation. For Michaels, this deal is his second LMA/option to be announced in recent days — he’s also shipping three CPs in Kansas into an LMA/2010 option to Rockin M Radio.
