Independence expects to close on the deal in late June or July. It is a stock deal, as Newsperson noted.
The Larue family will retain the Ralph Avenue property and lease the towers to IndepMedia. It appears that the new owners will be cleaning house -- retaining none of the current staff (on air, admin or engineering) -- and will subsequently file to move the AM transmitter site farther east of Stockton and increase power.
The FM will be moved to the Bay Area and will change its city of license, if not to San Francisco then to some other city in the Bay Area. The transmitter will be moved to an existing site, perhaps sharing with KPFA in Berkeley or, perhaps, Sutro.
Either way, IndepMedia only expects to retain the stations for a brief time -- maybe only two years -- before they put them back on the market, probably individually rather than as a pair.
The Larue family will retain the Ralph Avenue property and lease the towers to IndepMedia. It appears that the new owners will be cleaning house -- retaining none of the current staff (on air, admin or engineering) -- and will subsequently file to move the AM transmitter site farther east of Stockton and increase power.
The FM will be moved to the Bay Area and will change its city of license, if not to San Francisco then to some other city in the Bay Area. The transmitter will be moved to an existing site, perhaps sharing with KPFA in Berkeley or, perhaps, Sutro.
Either way, IndepMedia only expects to retain the stations for a brief time -- maybe only two years -- before they put them back on the market, probably individually rather than as a pair.