Government Industry
Industry: Email Alert RSS FeedBigglesworth Broadcasting Acquires Kenova Frequency
State Journal, The, December, 2004 by Elmer, Joann C
With a $2.225 million bid, Bigglesworth Broadcasting is the new owner of an FM radio frequency in Kenova.
Earlier this month, the Federal Communications Commission auctioned off 258 FM radio frequencies across the country The Kenova frequency brought in one of the highest bids for the auction, but Bigglesworth will pay substantially less than the bid price.
The auction was the first-ever open FM broadcast spectrum auction offered by the FCC. In 1997, Congress mandated a competitive bidding process for commercial radio station licensing. To level the playing field for small businesses, the FCC offered percentage credits to qualifying bidders. In Biggleworth's case, the company is entitled to a 35 percent credit for its $2.225 million bid. The final cost of the Kenova...
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