There will be fewer stations on the ownership report for George Laughlin’s GAP Broadcasting, but more money in the bank when it completes the sale of five Odessa-Midland radio stations to a local television operator.
The stations are AC KCHX-FM, News-Talk KCRS-AM, & Adult Hit KCRS-FM, all licensed to Midland; Coutry KMRK-FM, licensed to Odessa; and Classic Hit KFZX-FM, licensed to Gardendale.
The price for the one-AM, four FM cluster is $3M cash. An LMA was scheduled to kick off 10/1/09.
The buyer is ICA Radio Ltd., a subsidiary of ICA Broadcasting, headed by John Bushman and Barry Marks. It owns CBS KOSA-TV Odessa. In conducted a study to confirm that there will be at least 20 independent ownership voices once the deal for the radio stations closes.