In locales such as Texas and Oklahoma, it’s perhaps not so odd to have an oil company own a radio station. In the city of Lubbock, the broadcasting arm of G.O. Williams Oil Co. has been the owner of an FM with a Construction Permit for 100kw from a tower immediately to the south of the city center.
Now, this company is parting ways with the station. The buyer is an entity that recently entered New Mexico’s biggest market.
Doing business as Williams Broadcasting Company, the oil company has operated KJAK-FM 92.7 in Lubbock as a Christian Talk and Teaching station, branded as “The Spirit of the South Plains.”
It is licensed as a commercial radio station, and signed on the air in 1978 with its current call letters, which stand for “Keeping Jesus As King.”
Williams has owned KJAK for more than 35 years, but has now decided to part ways with the station.
The buyer of KJAK is VCY America, which made headlines in September 2017 when it agreed to acquire Class C0 KAGM-FM (now KVCN-FM) to VCY America Inc. for $900,000 from AGM, which was required to divest the station to comply with local ownership caps following a deal that saw it buy four stations from Univision Radio.
Last month, VCY America was again in the news as the buyer of La Campesina-affiliated KCCF-FM 88.3, a Phoenix-licensed station with 22.5kw signal emanating from a tower atop Shaw Butte, in north Phoenix, for $4.9 million.
Now, the Wisconsin-based owner of 25 full-power stations and 15 translators headed by Jim Schneider is acquiring KJAK for $550,000.
A 10% escrow deposit has been made to Williams and is being held by the Law Office of John Wells King.
Serving as the exclusive broker in this transaction, representing Williams, is David Garland Media Brokerage.
VCY’s legal counsel in this deal are Wayne Johnsen and Kathryne Dickerson of Wiley Rein LLP.