High Plains Radio Closes On Radio Stations From Altus FM Inc.
July 5, 2016
High Plains Radio Network, LLC, of Plainview, Texas is expanding into a third state. After acquiring a 3 FM station cluster in Mt. Home, Arkansas, Monte Spearman’s High Plains Radio Network, LLC announces it has closed on another trio of FM facilities, this time in Altus, Oklahoma. High Plains Radio Network, LLC is acquiring KEYB-FM, KJOK-FM and KKRE-FM, from Altus FM Inc., owned by Paul and Scott Wilmes, who have no other broadcast holdings.
The total purchase price is $750,000, with $600,000 for the assets at closing and $150,000 in a three year consulting agreement.
High Plains Radio Network, LLC also has ten AM and FM stations in west Texas, serving the Plainview and Lubbock markets.
Bill Whitley and Bill Cate of Media Services Group were exclusive brokers of the transaction. Whitley represented the Seller, and Cate represented the Buyer.