Horne Radio sells two more AM stations

News Sentinel staff

 

KNOXVILLE -- Horne Radio has agreed to sell two radio stations — WKVL-AM in Knoxville and WLOD-AM in Loudon — to a company led by Blount County businessman Jim Sexton.

The companies did not disclose terms of the transaction, although a trade industry Web site, Radio Business Report, listed the sales price to Blount Broadcasting Corp. at $145,000.

Nick W. Drewry, chief manager of Horne Radio, said the sale is a continuation of the company’s divestiture of AM radio stations outside its core AM/FM stations in Farragut and Monroe County. Drewry said he could not comment on terms of the sale.

The company earlier sold stations in Oak Ridge and Maryville.

“We were happy to find Jim Sexton, a local, successful East Tennessee businessman, who wanted to continue operation of the stations under local, independent ownership,” Drewry said.

Sexton stated in the news release no major changes in the operation are planned except for the addition of more music and local programming in time slots not used for local talk radio.

The transaction will become final upon approval of the station license transfers by the Federal Communication Commission. Until then, Horne Radio will continue to operate the two stations.

Horne Radio also owns and operates WFIV-FM and WMTY-AM in Farragut and WLOD-FM and WDEH-AM in Monroe County from their studios in Sweetwater. General Manager Tony Cox will continue to oversee those four stations.