Frankfort radio station set for sale
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Frankfort-based Kaspar Media on Tuesday announced plans to sell its Shine 99 radio station to Olivet Nazarene University in Illinois. Pending approval from the Federal Communications Commission, the deal is valued at nearly $1.5 million.
The 50,000-watt radio station, which uses the call signal WSHW-FM, was originally founded in 1962 as WILO-FM by Vern and Lillian Kaspar and was run by their son, Russ Kaspar, who served as CEO and general manager of Shine 99 until the sale.
Kaspar said the sale to Olivet is a continuation of a longstanding partnership with the university.
“Our history with Olivet started in the late 1980s when I met Dr. Les Parrott, president of Olivet at the time,” Kaspar said in a news release. “I talked with Dr. Parrott for about 20 minutes about the radio station Olivet was rebuilding in the Kankakee area to expand its radio outreach. I gave him permission to use the ‘Shine’ name for Olivet’s WONU radio station expansion.”
Olivet owns and operates seven radio stations in Illinois, Indiana and Michigan, including Shine.FM stations in the Chicago area and Indianapolis.
“We couldn’t be more thrilled to continue the broadcast legacy of the Kaspar family,” Brian McIntyre Utter, director of the Olivet Media Group, said in written remarks. “We anticipate great years ahead of encouraging North-Central Indiana families through the ministry of Shine.FM.”
Utter also told IIB in an email the university plans to have two staff members serving the Frankfort area over the next few years.
In an open letter on the Kaspar Media website, Russ Kaspar said his company will continue to expand its remaining platforms, which include radio stations WILO 1570 AM, WILO 96.9 FM in Frankfort and Delphi, WILO 102.7 FM in Lebanon, the Clinton County Daily News, the Boone County Daily News, and Hoosierland TV.
The company will also retain its media center in Frankfort and its Big Deals Store platforms.
Kaspar told IIB up to eight positions, including part-time, will be affected by the sale.