KNXR may be sold to Gregory Jensen's Hometown Broadcasting - KXLT - Fox 47 Rochester MN News, Weather, Sports #rochmn

KNXR may be sold to Gregory Jensen's Hometown Broadcasting

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 ROCHESTER, Minn. (FOX 47) -- One of the last easy listening radio stations in the country may soon be getting a new owner.

Thomas Jones' United Audio Corporation has signed purchase agreements to sell KNXR radio in Rochester to Gregory Jensen's Hometown Broadcasting based in Albert Lea.

There are two price tags listed for the transaction. The first: $1.1. million if the new owner becomes a member of Silver Creek Tall Tower Associates, which is a partnership between United Audio Corporation and Minnesota Public Radio.

The second price is much less, about $715,000 if the seller cannot resolve a dispute with MPR, and the new owner is instead forced to lease tower space.

The proposed sale must still be approved by the FCC.




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