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Radio Business Report: Television Business Report - Voice of the Broadcasting Industry
Indy FM gets religion

As commercian broadcast groups largely sit on the sidelines of station buying, non-commercial Christian music specialist Educational Media Foundation is gobbling up stations.  The latest is a $6.3 million deal to buy WKLU-FM Indianapolis from Russ Oasis' Indy Radio. 
Oasis bought the standalone station of r $6.2 million in 2004, so it's not much of a price gain - but at least not a loss in the current depressed market.  Oasis can now focus full time on his trio of FMs in Fort Wayne. 
Broker Mike Bergner told RBR/TVBR there is no LMA, so the Oldied format lives for at least a little while on 101.9 in Indy.  The 4kw Class A is licened for Brownsburg, IN.