It isn’t a square dance without a lot of spinning, and radio stations will be spinning in numerous directions in the deal sending 12 stations from a receiver to Townsquare Media, and then from Townsquare to a trust for the purpose of resale. Broker Kalil & Co., which handled the transaction, has named the price.
The incoming stations, in the Yakima WA and Tri-Cities WA markets, will command a price tag of $6M. Fred Kalil commented, “It’s been a very long drawn out transaction, and we’re happy to get this one done.”
Townsquare started out with six stations in Yakima and five in Tri-Cities and will wind up with six in each, operating a two-AM/four-FM cluster in each market.
According to documentation filed with the FCC, the price will include a $600K escrow deposit and is expected to be paid in cash at closing.
The seller of record is Revitalization Partners LLC, General Receiver for New Northwest Broadcasters LLC. Allen M. Davis is listed as principal for the receiver.
To recap, NNW stations in Yakima to be kept include KJOX-AM, KRSE-FM & KXDD-FM. They will combine with TM’s KATS-FM, KDBL-FM & KIT-AM.
NNW Yakima stations destined for the trust include KHHK-FM, KARY-FM & KBBO-AM, joined by TM’s KFFM-FM, KQMY-FM & KUTI-AM.
In Tri-Cities, retained NNW stations will include KALE-AM & KUJ-FM, joining TM’s KEYW-FM, KXRX-FM, KORD-FM & KFLD-AM.
Headed for the Tri-Cities trust are KEGX-FM, KIOK-FM, KKSR-FM & KTCR-AM, joined by TM’s KOLW-FM.