According to brokerage Kalil and Co., an eight station Oklahoma City broadcast cluster owned by Tyler Media is spinning two so it can pick up four from Renda Broadcasting. Fasten your seat belt as we unwind the deal.
The Renda stations being sold include KOMA-FM, KRXO-FM, KMGL-FM and KOKC-AM. Their sale completes Renda’s retreat out of Oklahoma following the earlier sale of its Tulsa stations to Journal.
The buyer, Ty Tyler’s Tyler Media LLC, will pay $40M cash for the quartet. Kalil will hold a $2M escrow and the rest will be paid in cash at closing. For its trouble, it will be excising a daytime AM and a Class A FM and replacing them with three booming Class A FMs and a 50 kW AM station.
Tyler already has two AMs, three FMs, one full-power television station and two LPTVs in the market. In its local cap filing, it demonstrated that there are enough independent broadcast voices in OKC to support common ownership of one full power TV and seven radio stations. LPTVs do not count against the cap. So it can keep the television assets but must spin two radio stations.
Those stations will be KTLR-AM OKC and KKNG-FM Blanchard OK. They’re being bought by WPA Radio LLC, headed by Stanton Nelson, for $1.6M cash.
Here’s what Tyler will be left with after everything closes:
All three television stations serve the Hispanic population. KTUZ-TV Shawnee is a Telemundo affiliate, KUOC-DC OKC carries Univision and KOCY-LP OKC carries Estrella.
Now for the radio stations: Coming from Renda:
* KOMA-FM Oklahoma City OK: A Class C on 92.5 MHz with 94 kW @ 1,549’
* KRXO-FM Oklahoma City OK: A Class C on 107.7 MHz with 92 kW @ 1,542’
* KMGL-FM Oklahoma City OK: A Class C on 104.1 MHz with 92 [email protected] 1,549’
* KOKC-FM Oklahoma City OK: A Class A on 1520 kHz with 50 kW-U, DAN
Remaining in the Tyler fold:
* KJKE-FM Newcastle OK: A Class C1 on 93.3 MHz with 100 kW @ 797’
* KTUZ-FM Okarche OK: A Class C2 on 106.7 MHz with 13 kW @ 958’ and coverage that skews to the west side of the city
* KEBC-AM Del City OK: A Class B on 1560 kHz with 1 kW-D, 250 w-N, DAN, projecting a relatively small but well centered main contour
Spinning to WPA:
* KKNG-FM Blanchard OK: A Class A on 97.3 MHz with 1 kW @ 801’ and a main contour focused on the southwest portion of the city
* KTLR-AM Oklahoma City OK: A Class D on 980 kHz with 1 kW-D, ND.