Rich Broadcasting has agreed to purchase the assets of KCHQ-FM and KRID-FM from Ted Austin
February 15, 2011
Rich Broadcasting expands its holdings in southeastern Idaho with the purchase of Ted Austin’s KCHQ-FM and KRID-FM (CP) for $950,000.* These stations are licensed to the northeast of Idaho Falls and will give Rich Broadcasting the ability to reach consumers from Jackson, Wyoming to Pocatello, Idaho. Ted and Connie Austin along with their staff will be joining Rich Broadcasting. Ted Austin called it a “win-win for all parties”.
A couple of weeks ago, Rich Broadcasting purchased 6 stations in Idaho from Townsquare Media. Rich Media is headed by Richard Mecham, a longtime Bonneville manager in Salt Lake City and Los Angeles. Rich Broadcasting will build out the recently authorized facilities of KRID-FM immediately upon FCC approval. Mecham said “We are buying great stations in the market that will now have the best coverage in southeastern Idaho (www.richbroadcasting.com).”
Greg Merrill and Jody McCoy of Media Services Group acted as brokers and assisted the parties in the transaction.