Local AM/FM Radio Station Sold to Oklahoma Company

One of the nation’s largest African American-owned communications companies has entered the Arkansas market with the purchase of a 1,000-watt radio station in Springdale.

Russell M. Perry, founder and chairman of Perry Broadcasting & Publishing Co. of Oklahoma City, has purchased AM radio station KFMD-1340, and its associated FM repeater, 105.3.

“This is a great opportunity for our company,” Perry said. “We are thrilled to be coming to Northwest Arkansas, and I hope we will be well-received.”

The Federal Communications Commission is expected to approve the transfer of the license by early December.

Perry said there hasn’t been a determination about what format changes will be made to the stations, if any. The news/talk format of 1340-AM, known as “Freedom 1340,” was launched in February 2013. The Christian contemporary music station 105.3-FM, known as “The Voice,” was launched in August 2008.

Hog Radio Inc., led by Jay W. Bunyard, was the previous owner. Bunyard, owner of Bunyard Broadcasting Inc. of De Queen, owns 20 radio stations across the state, including four based in Northwest Arkansas — Hog Sports Radio ESPN 99.5, KFMD-FM “Classic Hits 101.5,” KCYT-FM “Coyote Country 96.7” and KUOA-AM “The Hog.” He said those stations will not be affected by the Perry acquisition.

Perry Broadcasting is the largest independently, minority owned and operated radio broadcasting company in the country, with 22 radio stations in various formats throughout Oklahoma, Georgia and South Carolina.

The company also owns The Black Chronicle, launched in 1979 and now the largest weekly newspaper in Oklahoma. Perry runs the company, which has about 300 employees, with his son, Kevin Perry, who is president and CEO.

Russell Perry is a former Secretary of Commerce (1999-2000) under Gov. Frank Keating, and also owns the controlling interest in First Security Bank & Trust Co. of Oklahoma City. He has been inducted into several halls of fame, including the Oklahoma Hall of Fame in 2013, considered the highest honor an Oklahoman can receive from the state.

Perry said he will be active in assessing other strategic expansion opportunities in Arkansas.

“This is the just the beginning; we hope to grow in Arkansas,” he said. “Hopefully this gets our foot in the door.”