In mid-July, the woman serving as the independent executor of the estate of John B. Walton signed off on an agreement allowing a crosstown owner of two FM radio stations to acquire two AM radio stations, a full-power FM station, and two FM translators serving Ruidoso, N. Mex.
The transaction, brokered by Kalil & Co., has now formally closed.
This makes MTD Inc. the licensee of KWES-AM & FM, KBUY-AM and K234AQ and K290AY in Ruidoso, will Walton Stations Inc. selling them for $170,000.
MTD is a three-person entity in which Will Rooney holds 50% interest while Robert Ramseyer and Jim Garcia each hold 25% interest. It will compete for local listeners in Ruidoso against against Cloudcroft Broadcasting Corp. Ruidoso is some 140 miles from Albuquerque.
“The foundation of MTD Radio is local community broadcast radio,” the company says. “In each of our markets, we strive daily to make a positive impact on the communities we serve. Our mission is to provide the highest quality product for our listeners and deliver effective results for our advertising partners by creating dynamic marketing solutions.”
MTD Radio operates media outlets in Lincoln, Otero, Chaves, Lea and Eddy Counties in South Central and Southeast New Mexico as well as parts of West Texas. These properties include KNMB-FM in Capitan and Ruidoso-licensed KIDX-FM, and an FM translator for KWMW-FM.
