The licensee of a single FM licensed to the Oklahoma city of Chickasha has just struck a deal to greatly increase his broadcast holdings in the Sooner State.
According to an asset purchase agreement filed Friday (12/21) with the Commission, four FMs, three AMs and three translators in Oklahoma are being dealt to Mollman Media.
The seller is a champion of minority broadcasters across the U.S.
The seller? Perry Broadcasting, which has served Oklahoma with publishing and broadcasting assets since 1979 under the leadership of Russell M. Perry — a distinguished African American media executive who build Perry into a company with stations in Augusta, Ga., in addition to The Black Chronicle newspaper.
The newspaper marks Perry’s roots in media ownership, with radio stations added to the mix in 1993 with the purchase of KVSP-AM 1140 in Oklahoma City.
In 1996, Perry purchased its first duopoly with KKRX-AM in Lawton & KJMZ-FM in Cache, Okla.
Five years later, Perry grew again by acquiring five stations including KPNS-AM in Duncan, KXCA-AM in Lawton, KKEN-FM in Duncan and KDDQ-FM in Comanche.
Perry’s growth continued in 2005 with the purchase of KACO-FM in Apache, serving the Lawton market.
Now, Perry is scaling back by selling the stations he obtained in 1996, 2001, and in 2005 to Mollman.
Also being spun to Mollman are three FM translators: K291CT, Duncan; K229DG, Lawton; and K244FU, Lawton.
Why is Perry selling the 4 FMs, 3 AMs and 3 translators at this time? It is not clear. A message was left with Kevin Perry, VP/GM of PPBC, on Friday morning.
Officially, the Matthew Mollman-led Mollman Media is obtaining licensees Perry Broadcasting of Apache, Perry Broadcasting of Lawton, and Perry Broadcasting of Southwest Oklahoma.
The price: $3 million.
A $150,000 escrow deposit has been made to Perry by Mollman, and is being held at First Security Bank.
With the sale, Perry will now focus its efforts on its Augusta, Ga., stations; and on properties licensed to Anadarko, Kingfisher, Oklahoma City and Tulsa, Okla.
Meanwhile, Mollman will have an eight station and three translator group, adding to his Classic Hits “Kool 105.5” in Chickasha and its HD2 companion, which airs a Classic Country format as “106.1 The Ranch.”
Mollman’s radio experience goes back to 2000, when he was with Tyler Media. In April 2003, for $114,400, Mollman acquired KWCO-FM — today branded as Kool 105.5 — under his first entity, Kenny Communications. The seller? Tyler Media.