Oregon AM spun away from FM sister

0

SoldKSRV-AM will no longer be associated with KSRV-FM when a deal transferring it to a new owner makes it to the finish line – but one unique aspect of the deal is that for the time being at least, the buyer will be able to hang on to the calls. Both stations are home to Ontario OR.


When a similar-call combo is split up, the contract almost invariably calls for the buyer to find a new set of letters, unless the seller has plans to abandon them. However, the buyer’s right to use the calls is not set in stone – it’s more like putty. The seller can require the buyer to get a new set with 90 days notice.

The seller is FM Idaho LLC, headed by Wendell M. Starke.

The buyer is Armstrong Radio Group, headed by David, Patricia and Cortni Armstrong.
The price of the station will be $350K, comprised of $10K in earnest money, a $40K down payment and a $300K note payable in 48 monthly installments of $1,750 each. An LMA began 2/1/13.

Another wrinkle to the deal involves plans to make physical improvements to the area in which the studio is located by the City of Ontario. If the work forces the station off air, the City has agreed to pay FM Idaho $208 per lost broadcast hour. It may not even be a problem, but if it is, the contract provides that in the event it occurs after the LMA has begun or the transaction has closed, the seller will hand any money collected over to the buyer.

The AM is a Class B on 1380 kHz, a Country station known as The Bull, with 5 kW-D, 1 kW-N, DAN. It is strictly an Ontario station. The community is northwest of Boise ID. The station will be the only one owned by Armstrong.

KSVR-FM is a full participant in the Boise radio market, using a Bob AC format on its Class C 96.1 MHz signal.