Jonesboro, AR – (JonesboroRightNow.com) – EAB Media, the Arkansas-based radio company that also owns stations in the Jonesboro market, has agreed to sell a large group of its radio properties in central Arkansas and the River Valley region.
Arkansas River Valley Radio, owned by former University of Arkansas All-American kicker and NFL punter Greg Horne of Russellville, has reached an agreement to purchase 13 radio stations and five translators from EAB Media. The asset purchase agreement values the deal at approximately $6.7 million.
“We’re consolidating our efforts in East Arkansas,” explained Bobby Caldwell, owner of EAB Media. “We have 40 stations and 20 translators for a total of 60 signals.”
The stations involved serve multiple communities across central Arkansas and the River Valley, including Russellville, Morrilton, Atkins, Dardanelle, Vilonia, Ola, Danville, Clarksville, Greenbrier, and Conway. Arkansas River Valley Radio began operating the stations on Jan. 1 through a local marketing agreement.
Horne is a Russellville native and a third-generation broadcaster. His grandfather, Russ Horne, was among the original owners of KVOM-AM in Morrilton in the early 1950s, and the Horne family operated radio stations in the Russellville area from the late 1940s into the 1990s.
Horne worked in radio as a teenager before attending the University of Arkansas and later playing professional football. After his NFL career, he served as general manager for Deltaplex Radio in Pine Bluff and as president and chairman of the Arkansas Broadcasters Association.
“I’m a Russellville native, River Valley guy,” Horne said in a statement. “The opportunity came available to do a deal with Bobby Caldwell and the EAB group, and if he was ever ready to do something, I’d like to try to take them over and help serve and be part of the community.”
“I’ve known Greg and his family is from there, originally, and I just knew he was always interested in getting back to that area,” said Caldwell. “It was just sort of a mutual thing.”
EAB Media has been one of the largest radio ownership groups in Arkansas. Following the transaction, EAB will retain ownership of 25 radio stations, including its stations serving eastern Arkansas. EAB’s stations in the Jonesboro market include KFIN-FM, KIYS-FM, KWHF-FM, KNEA-AM, and KBTM-AM.
“This transaction places these central Arkansas and River Valley stations with a trusted local broadcaster and allows EAB Media to further concentrate our resources on serving listeners and residents of eastern Arkansas,” Caldwell said to Arkansas Money and Politics.
Caldwell added to JRN that the deal was pending approval. “It has to be approved by the FCC, and I don’t know exactly how long that would take. The attorneys think three months, maybe,” he said.
