DeanRadio.TV to buy 16 Missouri radio stations

LEBANON, Mo. (AP) -- A startup radio company plans to purchase The Shepherd Group, which operates 16 small-market radio stations in Missouri, The Lebanon Daily Record reported.

DeanRadio.TV LLC will pay a reported $30.6 million, the newspaper reported Wednesday. No staff changes are planned. The Federal Communications Commission must still approve.

DeanRadio.TV is a new company owned by Dean Goodman, the former president and chief executive officer of the television broadcasting company ION Media Networks Inc. Goodman resigned from ION Media Networks in October.

"I have a very strong belief in small-market radio," Goodman told the Daily Record. He said he is seeking additional properties. In addition to the 16 Missouri stations, DeanRadio.TV operates six radio stations in Iowa.

The Shepherd Group president David Shepherd declined comment except to say that he expects FCC approval in about 90 days.

The Shepherd Group includes KJEL-FM and KBNN-AM in Lebanon; KJFF-AM in Festus; KREI-AM and KTJJ-FM in Farmington; KRES-FM and KWIX-AM in Moberly; KIRK-FM in Macon; KOZQ-AM, KJPW-FM, KJPW-AM and KFBD-FM in Waynesville; KAAN-FM and KAAN-AM in Bethany; and KMRN-AM and KKWK-FM in Cameron.

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Information from: The Lebanon Daily Record, http://www.lebanondailyrecord.com