What McKay will pay for


KRML-AM Carmel CA, in the Monterey-Salinas Arbitron market, is one of the few commercial mainstream jazz stations around, and its status as an AM station means it has little or no company in the format on the senior band. It’s going to new owner Scot McKay at what is reportedly a discounted price.

Besides being a rarity in its own right, the station is famous for its starring role in the movie “Play Misty for Me” starring Clint Eastwood.

In fact, it was in conversation with Eastwood that McKay’s plan to acquire the station took seed. Eastwood said of the sale, “I am very excited Scot McKay has bought KRML and will keep it going. Carmel deserves to have this wonderful station that will continue to feature great music.”

A local newspaper account said that the Monterey County Bank was shopping the station around with an asking price in the neighborhood of $350K. A national group was said to be kicking the tires and contemplating putting a country format on the station.

But according to broker Ray Rosenblum, who handled the sale, McKay prevailed, and will pay only $150K for the station.

McKay is seeking support from the local business and philanthropic community, looking not only for advertisers but – as if the station was a non-commercial station – offering underwriting opportunities for both businesses and individuals.