Sorenson Broadcasting Corporation is selling off three South Dakota combos, culminating a deal that kicked off some time back, with a different buyer. The stations are in Pierre, Yankton and Mitchell.
Riverfront Broadcasting LLC, headed by Carolyn and Doyle Becker, is the buyer. They’ll get the stations – KCCR-AM/KLXS-FM in Pierre, KYNT-AM/KKTA-FM in Yankton and KORN-AM/KQRN-FM in Mitchell, for $3.2M, with $3M in cash and the remaining $200K paid via promissory note.
The original buyer was NRG Media, which had an LMA/option that was brokered by Kalil & Co. As renters of the stations, NRG actually sublet them to Riverfront, which has been operating them in its own LMA since 3/1/08. The option to buy also went to Riverfront along with the right to operate the stations.
RBR-TVBR note: Now available RBR-TVBR’s ‘2010’ new guide to help chart a course through the treacherous waters of buying, owning and selling radio or television stations.
Click to purchase: “Profitably Buying and Selling Radio Stations,” or 1-800-288-4677, ext. 5022 for $49.95, paperback, $39.95, e-book.
