Partner Sells His 80% Of KRXY Owner
July 9, 2012 at 4:41 AM (PT)
RODNEY J. ETHERTON is selling his 80% interest in OLYMPIA BROADCASTERS, licensee of Hot AC KRXY (94.5 ROXY)/SHELTON-OLYMPIA, WA, to 20% partner MICHAEL F. MAROHN, ROBERT HART, JERRY R. FARMER, and KAY PEARSON for $600,000 ($3,000 per share). MAROHN will end up with 60% of the company after the deal, with HART holding 20%, FARMER 14%, and PEARSON 6%. The company's sister PREMIER BROADCASTING, INC. is also selling KRXY's office and studio facility to MAROHN, with the proceeds applied to pay off debt on the premises.
VIC MICHAEL's KONA COAST RADIO has requested an extension of its Silent STA for KIMI/SIDNEY, IA while it completes its new facility.
ARK-LA-TEX, LLC has also asked for an extension of its Silent STA for KTFS-A/TEXARKANA, TX, which is looking to build a new site but has been victimized by repeated vandalism when making repairs.
ALOHA STATION TRUST, the trust handling the CLEAR CHANNEL spinoffs, has closed on the sale of Classic Rock WPBH (ROCK 93.5)/PORT ST. JOE, FL to OMNI BROADCASTING LLC for $135,000.
CRYSTAL NV, LLC has closed on the assignment of Classic Country KHWG-F/CRYSTAL-PAHRUMP, NV to PRESIDENT OF THE LIBERTY CHURCH OF NEVADA AND HIS SUCCESSORS, A CORPORATION SOLE as a gift for no consideration.
The AMERICAN FAMILY ASSOCIATION has closed on the donation of the construction permit for KLJG/SIMMESPORT, LA, to JOY CHRISTIAN COMMUNICATIONS, INC.
And MINNESOTA VALLEY CHRISTIAN RADIO has closed on the sale of two FM translators, K296ER/MANKATO, MN and K250AC/ST. PETER, MN, to MINN-IOWA CHRISTIAN BROADCASTING, INC. for $100.