Attention K-LOVE listeners. Your easy gifts have helped K-LOVE pay $21.5 million for one of the biggest stations in rock. According to Chicago media analyst Robert Felder and this FCC filing, Educational Media Foundation is gobbling up Chicago rock station WLUP-FM 97.9.
As Felder points out in his article, K-LOVE just last year bought Los Angeles rock station “The Sound” and two other stations for $58 million. The Christian music giant pays for their expansion with twice yearly pledge drives.
Felder quotes industry analyst Tom Taylor praising the business strategy of nonprofit EMF:
“They’re very, very sharp, business-wise, and very strategic,” Taylor said of the company headquartered in Rocklin, California, near Sacramento. “They buy based on a formula of x dollars per person under [covered by] the signal.”
It should be obvious then that Chicago is a huge score. Get ready Chicagoland listeners, soon you will be asked to make those easy pledges of $40/month so you can keep K-LOVE on the air. They will need a little less than an entire pledge drive to pay for that station.
What happens when K-LOVE buys all the stations?