4 days ago
JOY! FM wins KDHX auction with $8.75 million bid
ST. LOUIS — Christian radio station 99.1 JOY FM is one step closer to owning KDHX, the 88.1 FM radio station, after offering a winning bid at an auction for the station on Friday.
According to our partners at the St. Louis Post-Dispatch, JOY! FM topped Christian music network K-LOVE with an $8.75 million offer, beating out K-LOVE's $8.5 million bid.
JOY! FM's bid won the right to buy KDHX's license, broadcast tower, and other assets after the radio station filed for bankruptcy two months ago.
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The offer for KDHX also includes an agreement to fund the station's transition to a high-definition radio station and an internet station, allowing the station to play its traditional styles of music.
The Post-Dispatch reports that no other groups participated in the auction, including a coalition of former DJs and station supporters who would like to see KDHX remain over the airwaves under different management.
In March, KDHX filed for chapter 11 bankruptcy, which stemmed from a period when the radio station lost 24 of its 80 volunteer disc jockeys in September 2023 due to firings or walkouts, impacting its revenue.
A final hearing will take place on June 9 for a bankruptcy judge to determine whether to allow the sale. If the sale goes through without any objections from other interested parties, it may be closed within six months.
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