There are a handful of privately owned companies that have been active buyers over the last 24 months. Among them is High Plains Radio Network, the Texas-based company led by Monte Spearman.
HPRN has expanded again. This time, it is acquiring an AM/FM combo in its home state.
An asset purchase agreement dated Oct. 22 and filed with the FCC on Wednesday (11/7) shows that HPRN is acquiring Class A KVWC-FM 103.1 in Vernon, Tex., branded as “The Voice for the Greenbelt,” and 1kw Class C KVWC-AM 1490 in Vernon.
The stations serve an area to the northwest of Wichita Falls, and presently air a Full Service format heavy on Farm news and Texas State Network newscasts.
KVWC-AM & FM have been overseen by Mike Klappenbach, and his KVWC Inc. is selling the combo to HPRN for $100,000.
The total amount is due at closing.
High Plains Radio Network has gained the attention of radio industry executives and media brokers for its steady — and calculated — growth efforts. This deal follows the October 2018 acquisition of KICA-FM 98.3 in Farwell, Tex., serving the Clovis, N. Mex., market, for $25,000.
With that deal still set to close, HPRN boasts 31 radio stations and three FM translators, spread across Texas, Arkansas, Oklahoma, and Mississippi.