Chicago's WNTD-AM sold... sort of

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Posted by Bud on January 20, 2010 at 18:26:25:

In October, 2007, Sovereign City Radio Services, LLC purchased WNTD for $15 million.

It was announced this morning that Chicago's WNTD-AM 950 has been sold to M&S WNTD, LLC for a price of $17.5 million.

Who is M&S WNTD, LLC? It is a division of the newly formed Mark & Sally Follett Family Foundation, which has only one owner/employee: Mark Fowlett. Mark Fowlett is also the owner & founder of Sovereign City Radio Services.

WNTD-AM airs Relevant Radio, the all-Catholic format, during the daytime and mostly the jazz/blues/swing "Timeless Cool" format during the evenings, as the station then calls itself "Avenue 950." The founder of Relevant Radio is none other than... Mark Follett.

So basically, WNTD-AM was sold to itself... and for a lot of money.

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: In October, 2007, Sovereign City Radio Services, LLC purchased WNTD for $15 million. : It was announced this morning that Chicago's WNTD-AM 950 has been sold to M&S WNTD, LLC for a price of $17.5 million. : Who is M&S WNTD, LLC? It is a division of the newly formed Mark & Sally Follett Family Foundation, which has only one owner/employee: Mark Fowlett. Mark Fowlett is also the owner & founder of Sovereign City Radio Services. : WNTD-AM airs Relevant Radio, the all-Catholic format, during the daytime and mostly the jazz/blues/swing "Timeless Cool" format during the evenings, as the station then calls itself "Avenue 950." The founder of Relevant Radio is none other than... Mark Follett. : So basically, WNTD-AM was sold to itself... and for a lot of money.

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