The trend of consolidation across media outlets, especially radio stations, played a big factor in the sale of Austin stations KAUS-AM-FM and KEEZ in Mankato.

Tuesday, March 28, 2000

The trend of consolidation across media outlets, especially radio stations, played a big factor in the sale of Austin stations KAUS-AM-FM and KEEZ in Mankato.

Phil Nolan, who purchased the Austin stations in 1979 and the Mankato station in 1995, said the merging of stations across the country, made possible by the 1995 federal telecommunications act, has forced prices up, making now the right time to sell.

The act took the limits off the number of stations one company could own in a given market, Nolan said, causing smaller stations to sell for larger prices.

For KAUS, the potential buyer also was of the utmost importance to the family-run station. Nolan cited the location of Three Eagles Communications Inc. as one of the big factors in the sale, as well as the company’s track record.

"We like they are located in the Midwest," Nolan said. "They have owned many stations in the middle part of the state and they understand our part of the world.

"We wanted to make sure they would take care of the station and we were lucky to find this group. Three Eagles is a good solid company and they run good radio stations and have an excellent track record."

Three Eagles owns 25 radio stations in Iowa, Minnesota, Illinois, Nebraska, South Dakota and Colorado. Among local stations, it owns KATE and KCPI in Albert Lea. The sale was announced Monday.

Rolland Johnson is chairman and chief executive officer and Gary Buchanan is president and chief operating officer of Three Eagles.