The AM radio station branded as “Talk Radio for the Mid-South” is being spun to an organization wholly owned by Todd Starnes.
He, along with Dalton Glasscock, are becoming first-time owners with this purchase.
In a deal valued at $685,000, Legacy Media Holdings and Brookwood Hill Group are selling KWAM-AM 990 in Memphis and FM translator W300DE at 107.9 MHz to Starnes Media Group.
A $25,000 escrow deposit has been made and is being held by John C. Trent, in his non-interest-bearing attorney trust account.
The remainder is due in cash at closing.
Legacy is led by Mike Easterly.
KWAM is known for its mix of local and syndicated programs, including the Compass Media Networks-syndicated Markley, van Camp and Robbins, The Dave Ramsey Show and The Schnitt Show, hosted by Todd Schnitt (a.k.a. former Top 40 air talent “MJ”).
In the past, it was “The Mighty 990,” with a 10kw directional signal pattern offering a mix of R&B, Country and Soul that made Memphis famous. In fact, the original KWAM had a role in the early success of Elvis Presley, B.B. King and Johnny Cash.
From 1998-2000, KWAM were owned by iHeart predecessor Clear Channel Communications.