Leadership announced yesterday that Double Helix Corporation, the current licensee of KDHX/St Louis (88.1), plans to sell the station to EMF.
The announcement on the station website states, “With mission and sustainability as a driving focus, the board has signed an agreement with K-LOVE, Inc. to sell the FCC license and broadcast tower and has asked the U.S. Bankruptcy Court to approve the agreement.”
“Double Helix was able to negotiate an offer that exceeds expected market value at a time when the value of broadcast licenses is declining. By selling these assets now, Double Helix can save over $500,000 in needed broadcast infrastructure repairs and instead can redirect that money toward future projects.”
The sale needs approval from the U.S. Bankruptcy Court.
Earlier this month KDHX named K-LOVE as its principal creditor during its Chapter 11 bankruptcy process. Court filings show the proposed debtor-in-possession (DIP) lender for KDHX allows K-LOVE to loan funds to KDHX for continued operations and gives it priority for repayment. The arrangement requires approval from other creditors and a bankruptcy court judge.
KDHX is a class C non-comm 42kw @ 738 ft covering the St Louis market. KDHX would be EMF’s 1st station serving the St Louis market.
Station supporters are reported to be looking for ways to hold up the sale in court. KDHX first went on the air in 1987 and programs a community radio format of various music genres and public affairs programs.
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