Clear Channel Sells Jonesboro Radio Stations to Wynne-Based Group

JANUARY 19, 2007 - Posted at 1:08 p.m. CST, updated at 2:31 p.m. CST

JONESBORO, AR - The Clear Channel group of radio stations in Jonesboro this morning announced the sale of four of its five stations to Wynne-based East Arkansas Broadcasting.

East Arkansas Broadcasting (EAB) President Bobby Caldwell of Wynne confirmed the transaction for K8 News this afternoon, stating that his company is purchasing KFIN-FM, KWHF-FM, KBTM-AM and KNEA-AM.  Caldwell said Clear Channel's KIYS-FM (101.9) was "not part of the sale." However, it is expected that EAB will operate KIYS through a lease-management agreement.

Caldwell says the transaction is expected to be completed by mid-year.

EAB has several radio stations in smaller markets in eastern Arkansas, and also operates the Arkansas State Radio Network, which originates Arkansas State University sports broadcasts.

Clear Channel, based in San Antonio, Texas, announced late last year that it was selling most of its small market radio stations.