The sell-off of stations licensed to High Plains Radio Network continues. This time, it involves three FMs acquired by the Monte Spearman-led broadcasting company in April 2016.
Who is the buyer, and is he making a profit some four years later?
According to a broker release distributed Sunday (3/15), HPRN is agreeing to sell KEYB-FM, KJOK-FM and KKRE-FM to Paragon Plus.
The Buyer is headed by Blake Brewer, who owns KADS-FM, KECO-FM & KXOO-FM in Elk City and KSIW-AM, KLSI-FM, KWFX-FM & KWDQ-FM in Woodward, Okla.
Bill Whitley of the Dallas office of Media Services Group served as the exclusive broker for this transaction, representing the seller.
The amount HPRN is earning from the sale of the three FM stations, in Altus, OK, is now known.
HPRN acquired the stations for $750,000 some four years ago, from Paul and Scott Wilmes.
Now, HPRN is selling the trio for $400,000.
A $20,000 escrow payment has been made by the buyer.
The deal is the latest in a string of sales from Spearman and HPRN.
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