MMTC Secures Ownership and Training Opportunities for Minorities and Women
The Minority Media and Telecommunications Council (MMTC) announces the completion of deals for the six radio stations donated to MMTC by Clear Channel in 2010. All of these buyers are either minority or women owner/operators or they are non-minority buyers who have committed funding for minority training and mentoring initiatives. MMTC has entered into local marketing agreements (LMAs) which include a future option to buy the stations with four of these broadcasters. MMTC will remain the licensee of the stations until these sale transactions have closed. Two of the stations will be sold to and immediately operated by the new owners.
These transactions would not have been possible without the generous contribution of Clear Channel. “Clear Channel has shown a unique and important commitment to helping minorities and women make the daunting transition from management to entrepreneurial ownership. I extend the sincere thanks of the MMTC Board of Directors and staff to Clear Channel for the donations and to their executives in technology and engineering, especially Jeff Littlejohn and Steve Davis, for their endless support through these transactions,” said David Honig, President and Executive Director of MMTC.
“We appreciate how MMTC has put our donations to good use. MMTC’s mentoring of these new LMA partners is very important. They will learn good broadcasting is about supporting your community, delivering excellent content and building a stable business operation. Radio is a dynamic, fun and rewarding business. We wish these broadcasters the best.” said John Hogan, CEO of Clear Channel Radio.
“This was a win-win situation for all;” notes Henry Rivera, volunteer Chairman of MMTC. “Clear Channel continued their commitment to our work, the buyers had the chance to buy the stations at significant discounts and MMTC will use the proceeds to fund the important training and advocacy work we do. Most importantly, the listening public gets more diverse content on their radio dial. Hopefully other broadcasters and telecom companies will follow Clear Channel’s lead and work with us in the same way.”
MMTC salutes these broadcasters:
KFXN (AM) Minneapolis, Minnesota
Xeng Xiong and Kongsue Xiong operated an on-line radio station for Hmong residents and run a small business in the Twin Cities. Their on-line station has moved to KFXN AM, where they operate an LMA for MMTC. KFXN AM will broadcast information and entertainment in the Hmong and Laotian languages as they strive to promote social cohesiveness and understanding in Minneapolis. The Hmong community is 70,000 strong the community operates over 200 small businesses. This is a strong indication of the potential audience size for KFXN and hopefully an indication of the support they will receive from businesses in the area. The Xiong cousins plan to exercise their option to purchase the station from MMTC in the next 3-5 years.
WNRR (AM) North Augusta, South Carolina
Renee deMedicis is operating WNRR as an LMA and purchase the station from MMTC in 2012. Ms. deMedicis and her husband have extensive experience in radio sales and programming. Ms. deMedicis owns and operates an advertising agency in North Augusta. Both are on air personalities, sell advertising, serve the community and are working to grow the station. Visit WNRR and listen here.
WHJA (AM) Laurel, Mississippi and KYHN (AM), Ft. Smith, Arkansas
James Hardman, a minority broadcaster from Tulsa with decades of experience. Mr. Hardman will improve the broadcast equipment and plans to put both stations back on the air under an LMA with MMTC. Mr. Hardman will program the stations targeting the African American community. He plans to buy the stations from MMTC in 3-5 years.
WTOC (AM) Newton, New Jersey
Dr. Hector A. Chiesa and his non-profit organization, Radio Vision Cristiana, are currently operating under an LMA and will purchase as soon as the assignment application has been approved by the FCC. The station is currently silent in preparation for Radio Vision to launch their Spanish Religion format. Radio Vision currently owns another station in New York.
KMFX (AM) Wabasha, MN currently WBHA (AM)
Alan Quarnstrom and Q Media Group purchased KMFX from MMTC in June. As part of the purchase price Q Media and MMTC allocated funds for the purpose of initiating and/or maintaining training programs targeted at women and minorities who wish to manage or otherwise participate in the operations of broadcasting stations, broadband systems or any other medium of mass communication. Q Media operates other stations.
For more information on MMTC Media and Telecom brokering, ownership opportunities and to discuss the benefits of donating media and telecom assets contact:
David Honig, MMTC’s President and Executive Director (firstname.lastname@example.org), or
Diane Warren, MMTC’s Broadcast and Telecom Broker and Broadcast Consultant (email@example.com)