Re: Washington State Radio Happenings

#1792
Craig_Adams
Participant

This from All Access:


Partner Sells His 80% Of KRXY Owner


RODNEY J. ETHERTON is selling his 80% interest in OLYMPIA BROADCASTERS, licensee of Hot AC KRXY (94.5 ROXY)/SHELTON-OLYMPIA, WA, to 20% partner MICHAEL F. MAROHN, ROBERT HART, JERRY R. FARMER, and KAY PEARSON for $600,000 ($3,000 per share). MAROHN will end up with 60% of the company after the deal, with HART holding 20%, FARMER 14%, and PEARSON 6%. The company’s sister PREMIER BROADCASTING, INC. is also selling KRXY’s office and studio facility to MAROHN, with the proceeds applied to pay off debt on the premises.