Two months ago, an Indiana not-for-profit company with a somewhat unusual name announced that is acquiring a pair of FM translators in the Hoosier State.
Now, this entity that takes its name from a popular Carrie Underwood song is buying a full-powered FM near Indianapolis to add to its station holdings.
On May 4, TRANSACTIONS TODAY reported on a deal that involved W278BB and W282AZ in Greensburg, Ind., a town to the southeast of Indianapolis.
An entity led by President Martin Hensley, New Beginnings Movement, is selling the Greensburg duo to Two Black Cadillacs, a non-profit led by Sandy Biddinger and Kathy Verseman of St. Paul, Minn.
Biddinger and Verseman hold a combined 67% ownership in WTRE-AM in Greensburg.
Guess what? They are poised to have 50/50 ownership of WTRE-FM 89.9 in Greensburg, located to the southeast of Indianapolis.
Two Black Cadillacs is paying $60,000 for the FM, and a $1,000 deposit has been made to Hensley’s group.
That’s the same price that Biddinger and Verseman paid for the translators.
In that deal, Two Black Cadillacs said it will make no programming changes to the Greensburg translators and pledged to “support and promote programming and projects that will promote the cultural diversity of the service areas of the stations.”
This includes music, agricultural broadcasts and “informational broadcasts of local cultural events and programming to promote familial growth and understanding.”