Rocky Mountain Public Media to acquire Colorado stations

Rocky Mountain Public Media in Denver has agreed to acquire the stations and other broadcast assets owned by Community Radio for Northern Colorado, according to a June 30 asset purchase agreement. 

A limited liability corporation operated by RMPM will acquire CRNC’s six full-power FM licenses, including KUNC in Greeley and KJAC in Timnath, which airs The Colorado Sound, a Triple A format. The deal also includes 11 FM translators. 

In addition to the FCC licenses, RMPM will receive assets including CRNC’s intellectual property, social media accounts and current and historical donor and underwriting data.

According to the agreement, the transaction includes no cash transactions. The agreement requires CRNC to repay a $900,000 loan before closing to Mountain 300 LLC, the landlord of the station’s new facility in Fort Collins.

RMPM is the parent organization of Rocky Mountain PBS, jazz station KUVO and Urban Alternative station The Drop 104.7. It plans to offer employment to all CRNC employees in good standing at closing, according to the agreement. 

The deal includes a provision that requires CRNC to change its name within a day of closing and to agree not to register a business with the name or names similar to KUNC, The Colorado Sound or Community Radio for Northern Colorado.

RMPM will choose four members of CRNC’s board to join its board. RMPM will also start a new community advisory committee consisting of all members of CRNC’s board at closing. The committee will report to RMPM’s board.

The deal is pending FCC approval.

The two organizations announced in March that they were exploring a merger. In a press release at the time, they said last year’s rescission of federal funding for public media “created a unique challenge” and that the partnership would give the stations “an opportunity to strengthen the ecosystem while remaining deeply rooted in the communities they serve.”