Greater 2nd Mt. Olive Missionary Baptist Church, Endowment Arm signed a definitive agreement to acquire Power 105.5/The King from Light Media Holdings, Inc. (OTCPK:LGMH) for $0.25 million on November 1, 2012. As part of consideration, Mt. Olive will deposit $7,500 with the escrow agent and will also pay an amount of $7,500 at the closing of the deal. The remaining consideration amount of $0.24 million will be paid as a promissory note by Olive Baptist to Light Media. The transaction is subject to customary conditions, including regulatory and other approvals. The deal is expected to close on November 15, 2012. John C. Trent of Putbrese, Hunsaker & Trent, P.C. acted as escrow agent for Mt. Olive and Light Media.

Greater 2nd Mt. Olive Missionary Baptist Church, Endowment Arm completed the acquisition of Power 105.5/The King from Light Media Holdings, Inc. (OTCPK:LGMH) on January 3, 2013.