A deal first announced in October 2020 has finally been filed with the FCC.
Black Diamond Broadcasting has exercised its option to acquire Classic Hits “Sunny 97.7” WMRX-FM Beaverton, Country “107.7 The Highway” 1490 WMPX/107.7 W299CK Midland and “Discover Michigan Magazine” from Steel Broadcasting for $125,900. Black Diamond has been operating the stations since October 2020 via LMA.
Original Report 10/20/2020: Black Diamond Broadcasting has announced it will acquire Classic Hits “Sunny 97.7” WMRX-FM Beaverton and Country “107.7 The Highway” 1490 WMPX/107.7 W299CK Midland from Steel Broadcasting.
Black Diamond, owned by Mike Chires and Norm McKee, currently owns seven brands across ten signals in Michigan. The company began operating the stations via LMA on October 1. Terms of the deal have yet to be revealed.
Black Diamond Broadcasting announced today an agreement to acquire Midland, MI based radio stations Sunny 97.7 FM WMRX, 107.7 FM/1490 AM WMPX – The Highway, and “Discover Michigan Magazine”, from Steel Broadcasting.
Click to See Discover Michigan MagazineBlack Diamond will expand from 10 to 13 radio stations covering central and northern Michigan with the acquisition, and will look to their stable of top-rated radio stations to help expand the offerings and distribution of the highly successful “Discover Michigan Magazine”.
Steel Broadcasting owners, Tom and Bev Steel, who in addition to their success with their radio stations, have also built “Discover Michigan Magazine” into one of Michigan’s leading sources for access to discount lodging, meals and activities throughout the state, have been in discussions with Black Diamond for the past several months, identifying the company as the ideal organization to take over stewardship of their radio stations and magazine. (tap image to read Discover Michigan Magazine)
Tom Steel said of the transaction, “The time is right for Bev and I to step away from the daily demands of running our business and are thrilled that Black Diamond took immediate interest in what we have created. Their broadcast experience and expertise, combined with their commitment to Midland, as well as all of central and northern Michigan were key to us in making our decision to sell.”
Black Diamond Broadcasting, owned by life-long Michigan residents and long time broadcasters Mike Chires and Norm McKee, own and operate radio stations throughout central and northern Michigan, including Houghton Lake based 98.5 WUPS, Traverse City based Rock 105 & 95.5, 98.1 & 95.3 Classic Rock-The Bear and 102.9 Big Country.
Black Diamond will assume operations of the new stations effective on or about October 1st, under the terms of a Local Marketing Agreement, until such time as the transaction closes, following Federal Communication Commission approval.
This story first appeared on radioinsight.com