The man less commonly known as Benjamin L. Homel has sent a pair of small town Kentucky FMs packing on their way to a new owner, creating a double duopoly in the unrated Corbin-Barbourville area.
Homel, of course, is better known as the iconic Randy Michaels. He bought a number of stations during recent FM auctions as Radioactive Inc. and lately has been selling many of them off.
The stations are WKFC-FM North Corbin KY and WPBK-FM Crab Orchard KY. The buyer, Lincoln-Garrard Broadcasting Company Inc., is already quite familiar with the properties, which it has run in an LMA/option dating back to 9/18/07.
L-GBCI, headed by Jonathan L. Smith, paid $100K for the option, and will come up with cash for the rest of the total $760K purchase price.
The Corbin station will have overlap with WKFO-AM Corbin and WYWY-AM/WKKQ-FM Barbourville. The stations are located in the southeast corner of Kentucky. WPBK-FM is off by itself to the northwest of the others.
According to Jay Meyers of Broadcast Management and Technology, who handled the transaction, Radioactive has closed two other deals this year, selling a Little Valley, NY permit to the Seneca Indian Nation in May, and closing on a 2008 announced deal for a Green Bay area station licensed to Glenmore WI, to Midwest Communications in August.
