PRESS RELEASE

November 21, 2011

Chaparral Broadcasting, Inc. has purchased out of bankruptcy court the assets of 3 Big Island, Hawaii radio stations for $350,000.*  Radio stations KHBC-FM and KIPA-AM are licensed to Hilo, Hawaii and KHWI-FM is licensed to Holualoa on the Kona side of the island.  The stations were previously owned by Parrott Broadcasting Limited Partnership but were placed in Chapter 7 US Bankruptcy Court, District of Idaho with Gary Rainsdon of Twin Falls, Idaho appointed Trustee.

Media Services Group, Inc was appointed court-appointed broker and in auction Chaparral Broadcasting was the high bidder on the stations.  All 3 stations are currently off the air.  Chaparral Broadcasting president Jerry Lundquist owns stations in Idaho, Wyoming, and Montana as well as a station in Makawao (Maui),Hawaii. 

Greg Merrill and Tom McKinley represented the parties in the sale. 

* Pending FCC Approval