Two Beasley Media Group signals are headed for Christian radio ownership. Charlotte’s KISS 95.1 (WNKS) and Las Vegas’ X107.5 (KXTE) are being bought by Educational Media Foundation, while their current formats resurface on sister frequencies within each market.
Under the definitive asset purchase agreement, WNKS and KXTE are heading to the nonprofit parent of the K-LOVE and Air1 Christian radio networks. Both transactions still require FCC approval and are expected to close in mid-October. No sale price has been named as of press time.
In Las Vegas, KXTE’s current format and on-air identity are shifting to sister signal KVGS, displacing 107.9 VGS. As for Charlotte, The Maney and LauRen Morning Show is relocating from KISS 95.1 to sister station K104.7 (WKQC), as KISS goes away.
The deal extends K-LOVE’s active buying pace for big deals. The ministry closed on Milwaukee’s WLDB and WLUM for $4 million in January, and paid $8 million for Beasley’s Tampa rocker WPBB last summer. For Beasley, the sale continues a deleveraging push that included last year’s $18 million sale of its Fort Myers-Naples cluster.
Kalil & Co. served as Beasley’s exclusive broker on the transaction.
Beasley CEO Caroline Beasley said, “These transactions reflect our continued commitment to strategically managing our portfolio while preserving the outstanding local brands and personalities our audiences know and love.”
“We’re excited that Charlotte listeners will continue to be able to be entertained by Maney and Lauren on 104.7 WKQC, and that our Las Vegas audience will continue to enjoy the KXTE brand on KVGS. We appreciate K-LOVE’s partnership throughout this process and look forward to a smooth transition,” she added.
K-LOVE CEO Thomas Stultz said, “We are honored to acquire these stations and welcome them into the K-LOVE family. Both signals have long histories of serving their communities, and we look forward to building on that legacy as we expand our mission of delivering uplifting, positive programming to listeners in Charlotte, Las Vegas, and the surrounding areas.”
