No IOU needed for KIOU acquisition


Cold hard cash will be the medium of exchange when the Wilkins Communications Network closes on its acquisition of KIOU-AM Shreveport. The sale is yet another divestiture for Mark Acker’s Metropolitan Radio Group. The price is $150K – broker John Pierce will hold a $7.5K earnest money deposit with the rest of the money showing up on closing day. Buyer Robert L. Wilkins says his religious group now includes 17 stations and is in the hunt for more.