Price revealed for Journal Tulsa purchase


Journal CommunicationsJournal Broadcast is buying two FM stations from Renda Broadcasting en route to forming a one-AM four-FM cluster in Oklahoma’s #2 market. And now we know how much they’ll pay to get that operational upgrade done.

The price: $11.8M cash.

The application and contract filed with the FCC also calls for an LMA to begin on 3/26/12.
To recap, here’s the cluster that will be formed when all the stations come together.

From Renda:
KHTT-FM 106.9 Contemporary Hit
KBEZ-FM 92.9 Bob, describes as AC Variety
From Journal
KFAQ-AM 1170 News-Talk
KVOO-FM 98.5 Country Variety
KXBL-FM 99.5 Classic Country

The deal is not without a tranquil element. According to the contract, “Renda enjoys peaceful and quiet possession of the Owned Real Property,” and also claims unfettered use of its owned and leased property, unfettered access to same, and has no knowledge of any imminent disruptions to the enjoyable peace and quiet.