Thanks to Taylor on Radio-Info for info:
In Louisiana, two Holladay family deals with two different FMs. First transaction - CHR “Star 101.9” KNOE-FM, Monroe, a big full Class C, is sold from Clay Holladay’s Radio Monroe to Holladay Broadcasting (brother Robert) for $1,775,000. Two years ago, competitor Opus Broadcasting petitioned the FCC to deny Clay’s original purchase of KNOE-FM and alleged “illegal joint operations.” The FCC let the deal go through. Second transaction – Since he’s buying KNOE-FM, brother Robert now has one too many FMs around Monroe, a problem he’ll solve by selling urban “Magic 97” KJMG, Bastrop to KP Music Group (Calvin Murray). Price for the Class A Magic at 97.3 - $700,000. The terms are interesting, with Murray being required to pay interest only for the first year ($3,500 a month) and then ten years of monthly payments of both principal and interest ($7,771 a month). No cash upfront. Robert Holladay retains first priority lien on the station.
In Louisiana, two Holladay family deals with two different FMs. First transaction - CHR “Star 101.9” KNOE-FM, Monroe, a big full Class C, is sold from Clay Holladay’s Radio Monroe to Holladay Broadcasting (brother Robert) for $1,775,000. Two years ago, competitor Opus Broadcasting petitioned the FCC to deny Clay’s original purchase of KNOE-FM and alleged “illegal joint operations.” The FCC let the deal go through. Second transaction – Since he’s buying KNOE-FM, brother Robert now has one too many FMs around Monroe, a problem he’ll solve by selling urban “Magic 97” KJMG, Bastrop to KP Music Group (Calvin Murray). Price for the Class A Magic at 97.3 - $700,000. The terms are interesting, with Murray being required to pay interest only for the first year ($3,500 a month) and then ten years of monthly payments of both principal and interest ($7,771 a month). No cash upfront. Robert Holladay retains first priority lien on the station.