A three station group in the northern portion of Arkansas not far from the Missouri state line is going to parties who already hold 40% control. And in this stock transaction, the sellers will get a stake in an entirely different pair of stations.
The stations are KTLO AM-FM in Mountain Home AR and KCTT-FM in Yellville AR.
The Charles C. Earls Revocable Trust, the Scottie S. Earls Revocable Trust and Charles Scott Earls (as an individual) account for 60% of Mountain Lakes Broadcasting Corporation’s KTLO LLC. The other 40% belong to the Bobby Dean Knight Revocable Trust & Vivian Sue Knight Revocable Trust (20% jointly) and the Danny Ward Revocable Trust (the remaining 20%).
The two Knight RTs will each hold 25% when the dust clears, and The Ward Family Trust under Danny Ward will hold 50%.
The cost is $2.25M. $1.212M of that will be paid in cash at closing, and $521K will be paid pursuant to terms of a promissory note. The remaining $514K will be paid in the form of a 31.65% share in a pair of Missouri FM stations given to the sellers. The Earls family members will get a piece of KOMC-FM Kimberling City MO and KRZK-FM Branson MO.
RBR-TVBR note: Now available RBR-TVBR’s ‘2010’ new guide to help chart a course through the treacherous waters of buying, owning and selling radio or television stations.
Click to purchase: “Profitably Buying and Selling Radio Stations,” or 1-800-288-4677, ext. 5022 for $49.95, paperback, $39.95, e-book.