John Ostlund’s JSA Broadcasting and Christopher Pacheco’s Fat Dawgs 7 Broadcasting are dissolving their union of One Putt Broadcasting stations in Fresno.
The groups combined their operations in March 2013 with what are now Pacheco’s 790 KFPT and 1430 KFIG joining with Ostlund’s 940 KYNO and 99.3 KWDO. The pair combined to purchase Wilks Broadcasting’s three Fresno FMs in 2014 for $6.6 million.
Under the terms of the dissolution, Ostlund’s wife Katrina will purchase Fat Dawg’s 50% stake in the three former Wilks stations for $1.4 million, while also releasing them from the $3.4 million in debt owed on the original purchase. They will continue to operate their stations under the One Putt Broadcasting name. Fat Dawgs 7 also received $150,000 to move their two stations out of the One Putt studios, which was required to be done by September 30.
The dissolution was also the reason for the July format swap that saw the KYNO call letters and Oldies format move from 1430 to Ostlund’s 940 and the “ESPN” branded sports format and KFIG calls move to Pacheco’s 1430.
Upon closing of the deals, Fat Dawgs 7 will own Sports “ESPN 1430” KFIG Fresno/790 KFPT Clovis. John and Katrina Ostlund’s One Putt Broadcasting will own Oldies 940 KYNO, Classic Rock “95.7 The Fox” KJFX Fresno, CHR “99.3 Now-FM” KWDO Fresno, Rock “New Rock 104.1” KFRR Woodlake, and Classic Hits “K-Jewel 105.5” San Joaquin.
This story first appeared on radioinsight.com