July 18, 2005
NextMedia has entered into an agreement with Dove Media to purchase KBTE-FM serving Lubbock, Texas. NextMedia and Dove Media entered into an LMA agreement for KBTE in 2003 with a purchase option. NextMedia is exercising that option. The option price is $1,500,000.*
NextMedia is a national group owner which owns three additional FM stations in the Lubbock Market. Dove Media has no other broadcast interests.
Bill Whitley served as the exclusive broker in this transaction.
* Pending FCC Approval