Report: Several Groups Interested In KFUO/St. Louis
September 2, 2009 at 10:21 AM (PT)
There's a new wrinkle in the saga of the possible sale by LUTHERAN CHURCH-MISSOURI SYNOD of Classical KFUO-F (CLASSIC 99)/ST. LOUIS, as the ST. LOUIS POST-DISPATCH reports that the church is now entertaining "serious interest" in the station by BONNEVILLE, RADIO ONE, and CLEAR CHANNEL. Reports just two weeks ago had the church working on a deal to sell the station to JOY FM (GATEWAY CREATIVE BROADCATING) for $18 million.
While LCMS board member KERMIT BRASHEAR told the paper that the committee charged with selling the station is not negotiating with BONNEVILLE, rumors persist that the company is one of the parties offering a cash deal for the station (as opposed to the JOY FM deal, which would involve seller financing).
In the earlier report from AUGUST, the citizens group dedicated to saving the station's Classical format, the RADIO ARTS BOARD AND CIRCLE OF FRIENDS, was said to have offered $6 million, then $8 million for the station, and the church reportedly countered with a proposal that the arts board buy JOY FM's existing Contemporary Christian KPVR/BOWLING GREEN, MO-KHZR/POTOSI, MO, which serve the ST. LOUIS market, for $5 million, with a simulcast on an HD multicast channel of KFUO, a proposal that the arts board has thus far resisted.