Tom Taylor reported today that stations owned by Forever Broadcasting, Forever of PA, and Keymarket Licenses have all been under the same umbrella for years but are now about to fall under one name – FM Radio Licenses. The sister companies have been part of a complicated ownership under the leadership of partners Donald Alt and Kirby Confer for many years. The deal will close at the end of 2014 and apparently “allows for family financial planning and a redistribution of voting shares and equity.” The Judy Alt Irrevocable Trust will have a 34% vote in FM Radio Licenses and an equal amount of equity. The Alt Dynasty Trust will have a 6% vote and equity. Kirby Confer will have 22%, and the Judith Confer Irrevocable Trust will have 18%. Lynn Deppen and Carol Logan will each have 10%. All tolled, the company will have 45 full-power stations.
Oct 29 2014