Simmons Media Group has cut a deal with the Entertainment Media Trust, headed by Dennis J. Watkins, Trustee, which will give EMT its fourth AM station in the St. Louis MO market.
The brokers say that Watkins will pay $450K cash for the station; Patrick Communications represented the sellers, and John Pierce & Company represented the buyers.
One thing that Watkins does not want is the current set of call letters. Simmons will reserve calls WQQX-AM so that a change can be made on closing day, at which time it will be reimbursed $90 for its trouble.
The sale of Sports 1490 WFFX breaks up a Simmons AM duopoly with 1380 Sports KSLG-AM St. Louis.
But it will form a four-AM superduopoly. EMT already owns Talk/Oldies 1430 KZQZ-AM St. Louis and Country 1510 WXOZ-AM Highland Park. And it has a pending $600K deal to acquire Sports 1190 KRFT-AM University City MO from Big Stick Three LLC that was filed with the FCC at the beginning of October.