Jun. 15--Salt Lake City broadcaster Starley Bush, who purchased his first radio station in 1963, is leaving the business this fall after the sale of his last two properties: KZHT-FM and KUTQ-FM.
Bush, who sold his flagship station, KTKK-AM, last month to United Broadcasting, has sold KZHT and KUTQ to Regent Communications Inc. of Covington, Ky., for an undisclosed sum.
The two parties have signed a letter of intent and expect to close the deal this fall after Federal Communications Commission approval.
With the sale, Bush said he will retire, "to play tennis, golf and unravel."
The veteran radio executive started his career in 1950, selling advertising for the now defunct The Salt Lake Telegram, an evening daily newspaper. He also worked for KALL Radio and KUTV television, before purchasing KSXX-AM in 1963.
KSXX later became KTKK. He at one time owned an interest in KWIC-AM, which later became KRGO. He built KUTQ in 1988 and took over KZHT in October 1994.
The deal, if it goes through, will boost Regent's ownership to five stations. Along with KZHT and KUTQ, it already owns KKAT-FM, KALL-AM and KODJ-FM.
The deal caps a frenetic six months in the radio industry, locally and nationally, said Bill Hurley, Regent vice president and general manager. Congress passed legislation earlier this year allowing single owners to control more properties within individual markets. Stations have changed hands at a record pace.
Hurley declined to speculate whether there would be any format changes at Bush's stations, saying it is too early to tell.
While larger owners typically are buying out smaller ones, Hurley said "there are still some excellent smaller owners who run great properties and remain fiscally sound."
He said his company is in an acquisitions mode and is still looking for new properties to hit the market.
Regent has 20 stations in five markets, including Las Vegas; Kansas City, Mo.; Louisville, Ky.; and Charleston, S.C.
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