Filter Station Trading News by Year
|< back to Press Release archive|
|High Plains Radio Network, LLC Purchases Two Mississippi Stations|
High Plains Radio Network, LLC, of Plainview, Texas is moving into its fourth state, announcing the acquisition of WDMS and WGVM in Greenville, Mississippi. Coming on the heels of its purchase in another Delta market, that of KFFA AM/FM in Helena, Arkansas, High Plains crosses the Mississippi River to acquire WDMS, the 100,000 watt country formatted market leader in Greenville, and its sister stations, WGVM-AM with its FM translator, which are formatted with classic rock. The AM/FM/translator is licensed to ArkLaMs Radio Group, LLC, owned by Allen Schemmel, Eddie Pearson and John Padgett of Nashville, Tennessee, who have no other broadcast ownership interests.
High Plains Radio is owned by Monte Spearman, who has 10 stations in the Plainview and Lubbock, Texas markets, five stations in Altus, Oklahoma, and three FM’s in Mt. Home, Arkansas and recently filed for the AM/FM in Helena, Arkansas. The Greenville acquisition will now bring the HPRN portfolio up to a total of 22 facilities. WDMS/WGVM manager Steve Shelton will remain with HPRN as market manager. According to Shelton, “We are thrilled to be a part of the High Plains family of stations, and we will be actively looking to acquire additional Greenville stations, to fill out our market potential.”
Purchase price of the Greenville combo is $500,000, with $300,000 cash at closing and seller financing for the remaining $200,000.*
Bill Cate of Media Services Group’s Little Rock office was the exclusive broker of the transaction.