Fred Westenberger, whose family brings Christian programming to the radio in four markets, is expanding in one of them, picking up yet another spin-off from Utah-based Simmons Media Group. The station is KQPN-AM West Memphis AR.
Westenberger will license it as KQPN-AM. The value of the property is listed as $400K, which will be paid in cash. According to the contract, $275K of that is going to tangible personal property, $25K to real estate and $100K for FCC licenses and goodwill. An LMA was scheduled 5/1/10.
It will pair up with WMQM-AM Lakeland TN and WLRM-AM Millington AR. KQPN operates with a Sports format at the moment.
Westenberg also owns standalone stations in Nashville, Knoxville and New Orleans.
Two brokerage firms worked on the deal, John Pierce & Company for the buyer and Patrick Communications for the seller.
RBR-TVBR note: Now available RBR-TVBR’s ‘2010’ new guide to help chart a course through the treacherous waters of buying, owning and selling radio or television stations.
Click to purchase: “Profitably Buying and Selling Radio Stations,” or 1-800-288-4677, ext. 5022 for $49.95, paperback, $39.95, e-book.