Lubbock TX Radio: Alpha To Acquire Four From Wilks

UPDATE 3/23/15: The sale of Wilks Broadcasting's Lubbock stations to Alpha Media has been filed with the FCC showing the purchase price to be $23 million.


Original Posting...

Alpha Media of Portland, Oregon has announced they have entered into a definitive agreement to purchase four radio stations in the Lubbock, TX market from Wilks Broadcast Group LLC.

Wilks, an affiliate of The Wicks Group of Companies, L.L.C., owns:

• Rock KONE  101.1 FM and Country KLLL  96.3 FM in Lubbock, TX 
• Urban KBTE 104.9FM The Beat in Tulia, TX
• AC KMMX 100.3 FM Mix in Tahoka, TX 

Alpha Media will add the Wilks Lubbock cluster to the ninety-two stations currently in the Alpha Media portfolio.  When all pending deals are completed, it will bring the total number of stations owned by Alpha Media to ninety-six.

Larry Wilson, Chairman of Alpha Media commented on the acquisition, “We are so fortunate to be able to acquire the four best radio properties in Lubbock, TX. They combine fine signals and superb people to provide a radio winner that is perennially in the highest rated cluster in Lubbock.”

Jeff Wilks, CEO of Wilks said, “We are pleased to have entered into an agreement to sell our Lubbock radio stations to operators that are as experienced as Alpha Media. We think Alpha will be a great owner of these properties and will continue the ongoing success of the Lubbock cluster. We believe in the power and future of radio and continue to look for opportunities to create value in our business, whether we are considering buying or selling assets.”

This transaction will be filed with the Federal Communications Commission shortly and is subject to their approval.

Interesting: Waylon Jennings is a notable former personality of KLLL, working at KLLL when its call sign was KBFM,  immediately before joining Buddy Holly on tour. When Buddy died, Waylon returned to KLLL. (Correction:  See comment below)