courtesy AllAccess, com February 27, 2015 at 3:32 AM (PT)-
- The price for the sale by QUEEN CITIES BROADCASTING of Classic Hits KMCQ/COVINGTON, WA-SEATTLE-TACOMA to EDUCATIONAL MEDIA FOUNDATION, a deal announced YESTERDAY (NET NEWS 2/26) with the price undisclosed at the time, is $7 million, according to the contract filed with the FCC.
- KMCQ moved to Covington from The Dalles, OR in 2008 and increased coverage into the Seattle market in 2010 with a transmitter move to Cougar Mountain involving the frequency swap of CHHR-FM 104.1 Vancouver and KAFE-FM 104.3 Bellingham.
- EDUCATIONAL MEDIA FOUNDATION is also buying Classic Country WNBR-F (THE BEAR)/BETHEL, NC from COASTAL CAROLINA RADIO, LLC for $700,000. EDUCATIONAL MEDIA FOUNDATION is a not-for-profit organization and operator of K-Love and Air1 radio networks.
– See more at: http://www.allaccess.com/net-news/archive/story/138787/price-for-kmcq-seattle-7-million?ref=mail_recap#sthash.uxFKiooE.dpuf
It seems the purchaser are religious broad casters who usually apply for a ‘main studio waiver’ which apparently gets them some financial relief, based on their case for being fiscally strapped.
If someone in the US has a better grasp of the implications of such a ‘waiver’ I’d appreciate your input.
This makes the second Seattle FMer to go to Christian broadcaster owners in recent months, together with KGY-AM Olympia. Three stations in all.
SAVE LOCAL RADIO.