Founded in 2018, Desert Mountain Broadcasting has rapidly expanded through acquisitions to amass a stable of 12 stations and 3 translators in the Montana markets of Billings and Bozeman.
It’s poised to grow once again.
An Asset Purchase Agreement has been signed that will see Desert Mountain, led by President/CEO Cameron Maxwell, acquire KBOZ-AM & FM, KOBB-AM & FM and KOZB-FM, all located in Bozeman, from court-appointed receiver Richard J. Samson.
An LMA is already in place, giving Maxwell’s group control of the five stations, all of which were shut down in June 2018 due to license renewal fee delinquency concerns tied to former licensee Reier Broadcasting Company and the poor health of the seller’s head, Bill Reier. Citadel sold the stations to Reier in 1996.
As RBR+TVBR reported in November 2020, the stations were released from receivership by the Montana Eighteenth Judicial District Court, serving Gallatin County. It formally put a close to Reier’s ties to the quintet. However, the intended owner — Southwest Montana Media — never closed on the transaction.
It is unclear why that entity, led by Ted Austin, did not succeed. However, it is not known that he has forfeited a $5,000 deposit. To fund it all, Austin reached an agreement on a $175,000 Promissory Note, “less an amount equal to 50% of the FCC filing fees for the application.” That note had a 12-month term at 5% interest, with payment due in a lump sum in one year from the APA signing date. Furthermore, the note was secured by a personal guaranty from Austin and a security interest in KANA-AM in Anaconda, Mont., and KBOQ-FM in Lima, Mont.
With Austin unable to move forward with the transaction, Maxwell came to the table. And, he believes Desert Mountain has plans for future expansions in “multiple markets.”
He said, “We are extremely excited to finalize the purchase of these heritage radio stations. I was fortunate to work at these very stations in the early 1990s, and to be able to own
them is beyond amazing. I look forward to working with the Gallatin Valley community
for years to come.”
Details regarding the sale price and if there is a broker associated with this deal appear in the Form 314 filing, which had not been made as of Monday afternoon, Pacific Time.
