KCPW FM to be sold to local investor group

After weeks of negotiations with various potential suitors, the Board of Trustees of Community Wireless of Park City voted unanimously today to sign a letter of intent to sell the assets of Salt Lake City-based KCPW FM to Wasatch Public Media Inc. for $2.4 million.

The KCPW AM station will be sold to IHR Educational Broadcasting for $1.3 million, according to a statement from the Community Wireless board.

Wasatch Public Media is a group led by former KCPW general manager Ed Sweeney. The group has said it is committed to maintaining KCPW's existing National Public Radio format.

IHR Educational Broadcasting is a California-based nonprofit group that runs a network of Catholic radio stations. The assets of the KCPW AM station consist primarily of a broadcasting tower and the licenses to broadcast on the 1010 AM frequency.

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