Sounds like we can expect more acquisitions from High Plains Radio Network, which has been busy and now has a footprint in four states.
A half-million dollars is the price tag for a 100 kW country station in Greenville, Miss., and its AM-sibling-plus-translator that air classic rock. High Plains is acquiring WDMS(FM), which airs at 100.7 MHz, as well as WGVM(AM), which is heard at 1260 kHz and on a 97.3 MHz translator.
The deal grows High Plains’ broadcast stable to 22 signals. It also recently acquired KFFA(AM/FM) in Helena, Ark.
The seller in the new deal is Ark-La-Ms Radio Group LLC, owned by Allen Schemmel, Eddie Pearson and John Padgett of Nashville, Tenn., who have no other stations.
Bill Cate of Media Services Group was exclusive broker. Purchase price was $500,000, with $300,000 cash and seller financing for the rest, all pending the usual FCC approval.
High Plains Radio is out of Plainview, Texas, and is owned by Monte Spearman. In addition to the stations above, it owns 10 in Plainview and Lubbock, Texas; five in Altus, Okla.; and three in Mountain Home, Ark.
WDMS/WGVM Manager Steve Shelton will remain with High Plains as market manager, according to the broker announcement, which quoted Shelton saying, “We will be actively looking to acquire additional Greenville stations, to fill out our market potential.”