One week after its announcement, we now have a price tag on Carter Media’s acquisition of fifteen Connoisseur Media stations and two FM translators in Missouri, and this deal is much more traditional than the one that saw Connoisseur exit the Bakersfield, CA, market.
According to the asset purchase agreement filed with the FCC, the transaction carries a total purchase price of $400,000. Under the terms of the agreement, Carter Media will pay the purchase price in full at closing, with $40,000 placed in escrow. Kalil & Co., Inc. is serving as escrow agent and broker for the transaction.
The sale includes KAAN-AM/FM in Bethany, KWIX in Cairo, KKWK and KMRN-AM in Cameron, KIRK in Macon, KTCM in Madison, KRES and KWIX-AM in Moberly, KJEL and KBNN-AM in Lebanon, and KFBD, KOZQ, KJPW-AM, and KIIK-AM in Waynesville. All were gained in Connoisseur’s Alpha Media acquisition.
By contrast, Connoisseur’s sale of its Bakersfield cluster to Frequency Broadcasting is structured as a performance-based deal rather than a fixed-price sale. FCC filings show Frequency will pay just $1 at closing for KLLY, KKBB, KNZR-AM, and KNZR, with future payments tied to station performance.
Under the earn-out terms, Alpha Media will receive 25% of Broadcast Cash Flow from the Bakersfield stations through December 31, 2030, 50% of Additional Revenue linked to the Z Entertainment Agreement, and 25% of any future sale proceeds if Frequency sells the cluster within ten years.
