Randy Michaels, not better known as Benjamin L. Homel, has spun off two more of his Radioactive LLC start-up FM stations. One is in unrated territory along the West Virginia-Maryland border, the other in the Mankato-New Ulm-St. Peter MN market.
WDYK-FM Ridgely WV is one of the stations, and it’s headed to veteran radio operators John Raise, David Raese and Dale Miller. Their West Virginia Radio Cooperative will pay $875K for the station. According to the contract, they’ve already made option payments of $175K and $267.5K, and will fork over the rest in cash at closing.
They began an LMA on it way back on 3/9/05. The station will join a cluster comprised of WKLP-AM/WQXK-FM Keyser WV, WCMD-AM Cumberland MD and WVMD-FM Midland MD.
The other deal involved KXLP-FM Eagle Lake MN, which is joining the Linder family’s cluster in Mankato under licensee name Minnesota Valley Broadcasting Company. The Linders moved into the deal in place of the original buyer, which was Clear Channel.
The price is $1.2M, with a whopping $960K down payment with the remainder to be paid at closing. An LMA agreement was signed 6/6/06.
KXLP-FM will join a cluster with KYSM-AM/KTOE-FM Mankato, KATO-FM New Ulm, KDOG-FM North Mankato and KXAC-FM St. James, all in Minnesota. It has additional out-of-market overlap with KOWZ-AM Waseca and KOWZ-FM Blooming Prairie.
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