Longtime Lexington, Kentucky radio broadcast owner Lynn Martin has formed a new company, LM Communications Television, which has agreed to purchase Louisville TV station WBKI. Martin will serve as the new company’s president. The purchase price was not disclosed.

WBKI, a CW network affiliate, is a full-power station serving the 48th largest TV market.

The purchase is subject to FCC approval, but effective immediately, LM Communications will commence a local marketing agreement with the current owner, Louisville TV Licenses.

“I am very excited to purchase my first television station,” said Martin, “and especially happy that my first acquisition serves the largest city here in my home state. I believe WBKI has tremendous unrealized potential and I plan to explore and utilize all opportunities available to me to elevate WBKI into a much stronger TV station that it’s traditionally been.

“Being a local Kentucky owner will be one of my greatest assets in the effort to grow the station’s share of viewers in the Louisville market. For the first time, critical decisions regarding policy and operations at WBKI will be made locally on a daily basis, and I believe that gives my company an advantage that previous owners have never enjoyed,” Martin added.

Martin has been a radio station owner and operator for over 30 years. He owns 12 radio stations in Lexington, Ky.; Charleston, S.C; and Charleston-Huntington, W.Va.