Salem announced today that it is selling KGBI/Omaha (100.7 The Fish) to the University of Northwestern-St. Paul.
Salem’s Broadcast Media President, Dave Santrella, said, “Salem rarely sells its assets, but when we do, we make every attempt to ensure that the buyer will continue to program the station with a format that will make a positive impact in the community. The track record of University of Northwestern-St. Paul ensures us of that outcome and we couldn’t be more pleased.”
Jason Sharp, Sr. Vice President for Media at University of Northwestern, said, “We are grateful for the partnership we have experienced with Salem Media Group during this process. We look forward to expanding our network in Omaha and continuing the work of pointing people to Jesus through music and programming that makes an eternal impact.”
The University of Northwestern-St. Paul already operates 20 successful non-commercial Christian Contemporary radio stations in the Midwest, including stations in Minneapolis and Duluth, Minnesota; Sioux Falls, South Dakota; Fargo and Bismarck, North Dakota; Des Moines and Waterloo, Iowa; Madison, Wisconsin; Kansas City, Missouri; and Hartford, Connecticut.
Salem purchased KGBI from Grace University in 2005 for $8 million. Selling price in this transaction will be announced in the FCC filing.
Pending approval by the Federal Communications Commission, the parties expect to close the transaction in the third quarter of 2018.