June 6, 2011
Richard Mecham’s Rich Broadcasting LLC has closed on KCHQ-FM and KRID-FM (CP) for $950,000. These stations serve the greater Idaho Falls, Idaho market. Seller Ted Austin said “these stations will give Rich Broadcasting the opportunity to expand the Idaho Falls coverage from Jackson, Wyoming to Pocatello, Idaho.” Ted and his wife Connie along with most of their staff will be joining Rich Broadcasting. Rich Broadcasting plans to build out KRID-FM (CP) as soon as possible.
Townsquare Media also sold to Rich Broadcasting their 6 station cluster which includes country KID-FM 96.2 , “the bull”; hot AC “Star 98.5” KLLP; and KPKY 94.9 “the rock” ; KID-AM (590), KWIK (1240) and KEGE (92.1). The latter two are licensed to Pocatello, Idaho.
Mecham said he is “excited about putting together a tremendous cluster of radio stations in the region as well as adding some of the best staff in the market. We bought great stations in the market and will now have the best coverage in southeastern Idaho.” (www.richbroadcasting.com)
Greg Merrill and Jody McCoy acted as brokers and assisted Rich Broadcasting and Ted Austin on the sale of KCHQ-FM and KRID-FM (CP).