The cities of license involved in a newly-filed deal – Flasher and Cannon Ball – sound like the monikers assigned to maverick soldiers in some Hollywood military comedy. But they are actually towns in the Bismarck ND market.
The deal is for KKBO-FM Flasher. it’s going from Connoisseur Media, headed by Jeffrey Warshaw and Michael Driscoll, to Radio Bismarck Mandan, headed by Larry Schmidt.
The price will be $700K cash. Broker Michael Bergner represented the seller.
The implications of new deals between the radio industry and music licensing organizations ASCAP and BMI will work to Connoisseur’s benefit. The buyer and seller will work together to estimate refunds owed the seller due to overpayment of licensing fees in the past due to the retroactive portions of the new industry-wide agreements, and they will also calculate future credits Connoisseur may be entitled to via prepayments. The estimated total will be applied to the purchase price as an adjustment.
KKBO will be part of an FM duopoly with KXRV-FM Cannon Ball ND. Both stations are 100 kW Class C1 stations, on 105.9 and 107.5 respectively, with excellent coverage of Bismarck and its environs.