Mrs Fraser-Davies has informed the society settlement date will be July 1 and has expressed her hope the radio station, and the op shop, can both relocate.
She said the sale was necessary to allow for upgrading her cheese-making business in Morgan's Rd, Eketahuna, which had to be done to meet audit requirements.
Radio Eketahuna, which broadcasts on 106.5fm, has been steadily improving its programming, bringing a mixture of music, interviews, information services and sports coverage to Tararua District, often working in tandem with Radio Woodville.
It's emphasis on popular listening music has made the station a particular favourite with truck and tanker drivers as its signal can be received from the lower valley right through Wairarapa and Tararua.
News of the sale has come as a double blow for the society with its president John Nation recently resigning.
Mr Nation said his resignation was tendered because of "unpleasantness" he had encountered from members of other committees in Eketahuna.
Society secretary Joe Sweeny said he was hunting for premises for the station in a bid to save it from closure.
A special public meeting has been called by the society to be held tomorrow in the Eketahuna War Memorial Hall to discuss options for keeping the station going.
It is thought the op shop may have accommodation in part of the AH Herbert Building.