In the waning days of 2018, a newly formed entity whose principals include the man who served as SVP of Emmis Communications’ former St. Louis radio stations had just closed on its purchase of four stations serving Northern Arizona.
While Joe Schwartz, the chief executive of Cherry Creek until February 2016, was originally an investor in the operation, Stone Canyon Radio and Marketing, its been a two-person partnership with majority interest held by that St. Louis market veteran.
This will soon change. He’s shedding his interest in the stations — now that he’s settling in as the head of iHeartMedia‘s St. Louis stations.
The individual transferring his 56% equity interest in Stone Canyon to Dana Withers is John Beck.
It’s a move that comes following the February announcement that he’ll take on Market President responsibilities for iHeartMedia/St. Louis.
Withers has, until now, held 44% equity interest in Stone Canyon. Do the math correctly, and Withers will have 100% ownership of Stone Canyon.
The stations Stone Canyon owns are:
- Class C2 Talker KBTK-FM 97.1 in Kachina Village, Ariz.
- Class C0 100kw Country KSED-FM 107.5 in Sedona, Ariz.
- Class C2 Classic Rock KWMX-FM 96.7 in Williams, Ariz., plus two boosters in Flagstaff and Sedona
- Class A Classic Hits KFLX-FM 92.5 in Chino Valley, Ariz., which serves Prescott but not Flagstaff
The transfer of Beck’s ownership interest to Withers will see her pay him $35,000.
The agreement was signed March 9, and includes a clause that, should Stone Canyon employees Joe Rush and Jeff Allen be terminated, they will be provided at minimum 30 days’ notice.
Telecommunications Law Professionals attorney Gregg Skall served as Beck’s legal counsel in this transaction. Representing Withers is Dawn Sciarrino.
Withers is a broadcaster who assumed control of a company founded by her father, the late W. Russell Withers, Jr., in 1972. In addition to Withers Broadcasting, there is Dana Communications, which she oversees. She is highly regarded in Illinois, where the Illinois Broadcasters Association has bestowed on Withers its IBA/Vincent T. Wasilewski Broadcaster of the Year award for 2018. Withers is a past chairman and current trustee of the IBA and began her career in broadcasting upon graduation from Colorado Mesa University.
Withers Broadcasting and Dana Communications operate 31 stations in southern Illinois, southeast Missouri, and western Kentucky.
Beck remains best-known for his nearly 35 years at Emmis, which saw him not only lead KSHE-FM but also KIHT-FM (now KNOU-FM), KPNT-FM & KFTK-FM. He also had oversight of WRDA-FM 104.1 under Emmis ownership. Beck joined Emmis in March 1984 to oversee KSHE after some two years at Golden West Broadcasters’ KKCI-AM & FM in Kansas City. He began his career at WFFM in Pittsburgh.
