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News
2009's biggest radio deal is for Dallas non-com KVTT – it sells for $18 million
“The Truth” will become an adult alternative music station, as North Texas Public Broadcasting agrees to acquire KVTT (91.7) from Covenant Educational Media. North Texas also owns non-com KERA (90.1) and at one time ran a mixture of news/talk and adult alternative music on it, before concentrating on spoken-word programming in 1996. In her press release, KERA President/CEO Mary Anne Alhadeff says “I arrived at the station in late 2005, and right away, I heard from long-time listeners who said…they missed the music programs.” The price for KVTT, a full Class C facility, is $18 million, which appears to be the largest sale of a single station so far in 2009, and stretching back to late 2008. Covenant has run a Christian teaching format on KVTT, whose calls originally stood for “Keep Voicing The Truth.” Brokers on the sale: Kalil & Company for the seller, and Colorado-based Public Radio Capital for the buyer. The Radio-Info.com boards are discussing the sale.
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