Three Eagles to buy Clear Channel stations

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BY JEFF KORBELIK / GZO

Lincoln-based Three Eagles Communications will purchase four radio stations and their equipment from Clear Channel Communications, Three Eagles owner Rolland C. Johnson said Monday night.

Johnson announced the purchase to Clear Channel and Three Eagles staff members Monday afternoon in separate meetings.

Stations involved are The Eagle (KTGL 92.9 FM), 96KX (KZKX 96.9 FM), The Blaze (KIBZ 104.1 FM) and Lincoln’s 106.3 (KLMY 106.3 FM).

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96KX's Hoss Michaels finds something about the weather amusing during a recent afternoon show. (Ted Kirk)

96KX's Hoss Michaels finds something about the weather amusing during a recent afternoon show. (Ted Kirk)

“We believe broadcasting should be local, live and relevant,” Johnson said. “We think these are great radio stations. We’re happy to add them to our company and provide more great service to the Southeast Nebraska area.”

Johnson declined to reveal the purchase price. He said he plans no format or personnel changes. The four stations eventually will move to the Three Eagles’ building on Cornhusker Highway.

The sale will give Three Eagles six FM and two AM stations in the Lincoln market. The company also owns KFOR (1240 AM), ESPN 1480 (KLMS 1480 AM), 95 Rock (KRKR 95.1 FM) and KFRX (102.7 FM).

The Federal Communications Commission prohibits companies from owning more than six stations in Lincoln’s market size with no more than four of them being of the same type of service.

Johnson said Lincoln-based Chapin Enterprises will take over two of the FM stations as a qualified intermediary until Three Eagles sells them. Johnson said he didn’t know which of the FM stations Three Eagles will sell.

“Part of that depends on what happens in the interim,” he said. “Somebody may want to buy one or two. They may want something Clear Channel owns or something we own.”

 The Clear Channel stations became available in mid-November when the media giant announced it planned to sell 448 of its 1,150 radio stations and its 42-station television group.

All the radio stations for sale are outside the top 100 markets. Lincoln is the nation’s 174th largest market, according to media research company Arbitron.

Julie Gade, Clear Channel Lincoln vice president/general manager, said the announcement is a relief. Clear Channel employees have been concerned since the stations went on the market.

“(Three Eagles) will add four incredibly good radio stations to the mix,” she said. “What they have already is phenomenal. They now will have the ability to capitalize in the market.”

Triad Broadcasting of Monterey, Calif., is the only other owner of commercial radio stations in Lincoln, with three FMs and one AM.

  Johnson, who grew up in O’Neill, formed Three Eagles in 1994. Today, the company owns 53 stations in Iowa, Minnesota, South Dakota, Colorado and Nebraska.

Reach Jeff Korbelik at 473-7213 or jkorbelik@journalstar.com.