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.