With any luck, the second time that Simmons Media Group tries to spin off KDXE-AM North Little Rock AR will take hold, eliminating the need to hope that the third time will be the charm. The proposed new buyer will be a radio ownership newcomer.
Simmons, under its license subsidiary Simmons-Austin LS LLC, is selling the station to N C Communications LLC, headed by Nidia E. Cochran. The application notes that she does not now own, nor has she ever owned, any broadcast station.
The sale will mark the exit of Simmons from the state – it has no other radio properties anywhere in Arkansas.
The price will be $120K cash, according to Greg Guy of Patrick Communications, who brokered the deal. An LMA was written into the contract beginning 1/1/11, under terms of which Cochran is to pay $1,001 in monthly rental fees until closing.
According to the FCC, the station is a Class B on 1380 kHz with 5 kW-D, 2.5 kW-N and a DA2.
Previously, Simmons struck a deal to sell the station to AHB LLC, headed by Alma Viscarra. The contract, dated 4/11/08, called for a cash payment of $675K. That transaction was never consummated and the price for the station has suffered considerable erosion.
It is down from what Simmons originally paid for it as well. The Utah-based group acquired KDXE for $350K from Arlen Horne’s AM 1380 LLC. The contract for that transaction was dated 6/13/05.