Ferris becomes a wheel

The Citadel/ABC Radio deal in 2007 originally required the sale of two Oklahoma City-area stations, KKWD and KINB, though eventually Citadel was allowed to reacquire KKWD. Ownership of KINB passed to a trust whose marching orders called for it to sell when someone wrote a check with enough digits on it.

Which someone has:

Spymedia LLC will pay $2M cash for the station in a deal filed almost a year after [Ferris O’Brien’s] LMA of the Alternative outlet kicked off on 11/24/09.

You gotta love it. Two million American dollars for a 900-watt rimshooter. The Form 314 (Application for Assignment of License) has been accepted for filing. I should point out here that FCC approval of the transfer is not necessarily a foregone conclusion, but I really can’t see any reason why they’d turn it down: Ferris obviously knows how to run a radio station, and there’s family financial backing, which I’d bet is more solid than the sort most of us probably wouldn’t get from BigFarginBank, N.A.

If you haven’t heard the Spy, they’re at TheSpyFM.com.

(Seen here.)





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