Feds Approve Sales of 5 Radio Stations | Business

WASHINGTON - The Federal Communications Commission recently approved the sale of five northern Minnesota radio stations in two unrelated transactions.

Lamke Broadcasting is buying KOZY/1320 and KMFY/96.9 in Grand Rapids from Itasca Broadcasting for $1.25 million. Lamke Broadcasting is owned by Jim and Colleen Lamke of Hill City, who own no other stations.

Itasca Broadcasting is owned by Cynthia Iaizzo of Grand Rapids whose husband, Michael, passed away in 2010. The asset purchase agreement includes a five-year non-compete clause for Iaizzo.

In an unrelated deal, Red Rock Radio is buying three radio stations from companies owned by the Estate of Lewis M. Latto, Jr., who died last year. Red Rock will pay Iron Range Broadcasting $1,035,512 for KRBT/1340 and WEVE-FM/97.9 in Eveleth.  In a separate transaction, Red Rock will pay Latto Northland Broadcasting $419,488 for KGPZ/96.1 in Grand Rapids. Latto owned 100 percent of Iron Range Broadcasting and 87.5 percent of Latto Northland Broadcasting.

The WEVE sale also includes three translators, or low-power repeater stations, which carry WEVE programming in Hibbing, Virginia, and Ely.

Red Rock Radio owns 19 other stations in northeastern Minnesota and northwestern Wisconsin, including radio stations licensed to Babbitt and Deer River.  The company is a sister to Red River Broadcast Co., which owns the FOX TV affiliates in the Duluth and Fargo markets and the NBC affiliate in Sioux Falls, S.D.