Allied Media Partners Shuts Down
• On April 1 of this year we told you about the launch of Wichita-based Allied Media Partners (AMP), led by two local radio pros — CEO Matt Baty (left)and COO Tommy Castor (right). At the time AMP had reached an agreement with Rocking M Media, the state’s largest radio operator, to purchase six area radio stations — Adult Hits KIBB-FM (97.1 Bob FM), Triple A KVWF-FM (Flight 100.5), Classic Country KKGQ-FM (Kansas Country 92.3) and Rhythmic AC KWME-FM (92.7 The Blast) in Wichita, along with AC KLEY-FM/AM (The Wave 100.3/1130) in nearby Wellington and Adult Hits KKLE-AM (The Valley 1550) in Winfield, KS. AMP had been operating the stations via LMA since that time.
Sadly, it has now been revealed that serious complications between the two parties have resulted in Allied Media Partners shutting down and releasing its 20+ employees. This statement from Matt Baty lays out the deeply unfortunate details, as it reads: “It is with a heavy heart that I have informed Allied Media Partners’ staff that it is at an impasse with Rocking M Media. As a result, AMP will be closing its operations and terminating its staff effective immediately.”
The statement continues, “Since April 1, AMP has been operating the stations under a Local Marketing Agreement with the desire and intent to purchase Rocking M Media’s radio stations and assets. In just three months the FCC approved the transfer of the licenses. The only item standing in AMP’s way was to close on the Purchase and Sale Agreement. AMP was repeatedly told that Rocking M Media was having problems obtaining lien releases from its creditors. After countless delays, Rocking M Media was unable to provide documentation reflecting its ability to transfer its assets free and clear of liens. Although AMP continued to pursue acquisition, this last Monday it arrived at the studio to find that the landlord had locked the doors. It appears this stemmed from a dispute between Rocking M Media and its landlord. Rocking M Media responded by shutting down the transmissions from all stations, effectively making the stations go dark. In AMP’s opinion, that decision placed the value of the stations at risk and thus changed the dynamics of the transaction.
For the past week AMP has extended an olive branch with the hope that it could put its employees back to work. AMP required, however, that all assets be transferred free and clear of liens in connection with any payment. Rocking M Media refused.” In closing, Baty said, “Today was a tough conversation with our staff. AMP appreciates their support and understanding. It is unfortunate that these wonderful people were caught in the middle. Every single one of these individuals will have AMP’s full support in finding future employment.”
For information about any available AMP employees, please contact Tommy Castor at tommycastor@gmail.com.
