Transactions 07-17-07

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1.8M KGND-AM/KITO-FM Vinita OK from Mid America Ag Network Inc. (Larry Steckline) to KXOJ Inc., a subsidiary of Stephens Family LP (Michael P. Stephens, David P. Stephens, Joy Stephens). 90K escrow, 310K cash at closing, 1.4M note. Seller also receives advertising, one minute per hour on each station, seven days per week during each hour between 6AM-10PM for maximum of five years, or less if he spins off other local business interests. Overlap with KFTR-FM Chelsea OK and KEMX-FM Locust Grove OK. [File date 6/18/07.]


162K KHMB-FM Crossett AR. 51% of R&M Broadcasting from Jack Reynolds (51% to 0%) to Dennis Maxwell (49% to 100%). Cash. [File date 6/11/07.]


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