Four companies are involved in a four-station transaction in Fort Madison-Burlington IA. The starting point is Clear Channel, which is sending the quartet as part of a group deal with Skip Weller’s GAP West Broadcasting II. In turn, GAP is going to pass the stations along to a pair of gentlmen named John Pritchard. According to broker Terry Greenwood of TAG Media Consulting LLC, who handled the transaction, the elder Pritchard is more completely identified as John T. Pritchard, who is paying 900K for KBKB-AM Fort Madison & KBUR-AM Burlington. He’ll be in competition with his son, more completely identified as John C. Pritchard, who is paying 2.1M for KBKB-FM Fort Madison & KGRS-FM Burlington. Weller said that the GAP West strategy was keyed on geographical considerations, and Iowa is outside the target area. With that in mind, spinning the stations to local owners made perfect sense.
Sign up for free to get: The Daily Intelligence Report delivered to your inbox.
RBR-TVBR delivers complete broadcasting news analysis and our infamous observations.