New GAP in Laughlin’s portfolio


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.