Business Services Industry
Lexington, Ky., Commercial Radio Firm to Buy Local Broadcasting Company.
Knight Ridder/Tribune Business News, June, 2001
By Karla Dooley, Lexington Herald-Leader, Ky. Knight Ridder/Tribune Business News
Jun. 21--Lexington's only two locally owned commercial radio groups are doing some dealing.
LM Communications has decided to buy WSTL-FM, also known as Star 92.1, from Mortenson Broadcasting Co. for $4.8 million, according to Federal Communications Commission filings.
The FCC will have to approve the sale.
Because of the deal, LM will not purchase WLXO-FM 96.1 from Blue Chip Broadcasting, according to the filings.
LM had agreed to buy oldies station WLXO and WBTF-FM 107.9 from Cincinnati-based Blue Chip earlier this year.
LM has been operating WBTF, an urban station known as The Beat, since February, and "it's outperforming our...
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