Deals
By BIA Financial Networks -- Broadcasting & Cable, 11/30/2008 7:00:00 PM
TV
KLMH-LP/Abilene, KEAM-LP/Amarillo, KQHO-LP/Beaumont, K49KP/Lubbock, K42IP/Refugio, KSAD-LP/San Angelo and K52JO/Wichita Falls, Texas
PRICE: $2.7 million
BUYER: Christian Vision Church (Othmar Castillo, president)
SELLER: Hispanic Christian Community Network (Antonio Cesar Guel, president)
FACILITIES: KLMH-LP: Ch. 31, 2 kW, ant. 236 ft.; KEAM-LP: Ch. 61, 20 kW, ant. 371 ft.; KQHO-LP: Ch. 60, 10 kW, ant. 164 ft.; K49KP: Ch. 49, 20 kW; K42IP: Ch. 42, 5 kW; KSAD-LP: Ch. 13, 3 kW, ant. 220 ft.; K52JO: Ch. 52, 10 kW, ant. 330 ft.
AFFILIATION: K52JO: Ind./Spanish
COMMENT: $80K initial payment plus $2.62 million promissory note.
WJXS-CA/Jacksonville, Ala.
PRICE: $484,000
BUYER: Alabama Heritage Communications LLC (Forney McMichael, shareholder)
SELLER: Alabama Heritage Communications LLC (Thomas Williams, CEO)
FACILITIES: Ch. 24, 11.50 kW, ant. 1,039 ft.
AFFILIATION: Ind.
COMMENT: Williams and other shareholders are selling their combined 66.8% ownership to McMichael for $7,250 per share, or approximately $484K. $50K escrow deposit; balance payable in cash at closing.
K67IA/Gainesville, Texas; K67HZ/Logan, Utah
PRICE: $10,000
BUYER: Hispanic Christian Community Network (Antonio Cesar Guel, president)
SELLER: Estate of John R. Powley (Caroline Smith, executrix)
FACILITIES: K67IA: Ch. 67, 25 kW; K67HZ: Ch. 67, 25 kW
COMMENT: $10K promissory note.
W04CW/Tigerton, Wis.
PRICE: $1
BUYER: VCY America (Vic Eliason, VP)
SELLER: Theodore Bannister
FACILITIES: Ch. 4, 0.251 kW, ant. 38 ft.
RADIO
WZKB-FM/Wallace, N.C.
PRICE: $500,000
TERMS: Asset sale for note
BUYER: Carolina's Christian Broadcasting (Jose Coello, president); owns no other stations
SELLER: Christian Listening Network (George Wilson, president)
FACILITIES: 94.3 MHz, 6 kW, ant. 328 ft.
FORMAT: Spanish/Christian
COMMENT: $500K promissory note.
KRFD-FM/Thayne, Wyo.
PRICE: $470,000
TERMS: Asset sale for cash
BUYER: Cochise Broadcasting LLC (Ted Tucker Sr., managing member); owns seven other stations, none in this market
SELLER: College Creek Media LLC (Neal Robinson, president)
FACILITIES: 105.9 MHz, 380 W, ant. 2,333 ft.
FORMAT: AC
COMMENT: $50K escrow deposit; balance in cash at closing.
WFRM-FM/Portville(Olean), N.Y.
PRICE: $325,000
TERMS: Asset sale for cash and note
BUYER: Backyard Broadcasting (Barry Drake, president/CEO); owns 28 other stations, including WHDL-AM & WPIG-FM/Olean
SELLER: Allegheny Mountain Network (Cary Simpson, president)
FACILITIES: 96.7 MHz, 460 W, ant. 509 ft.
FORMAT: SAM
BROKER: Ray Rosenblum
COMMENT: $10K escrow deposit plus $90K cash at closing plus $225K promissory note.
KPIR-AM/Granbury (Dallas-Fort Worth), Texas
PRICE: $100,000
TERMS: Asset sale for cash
BUYER: The L.R. Radio Group (Lee Riza, president); owns no other stations
SELLER: Pirate Broadcasters (Robert Elliott, president)
FACILITIES: 1420 kHz, 500 W day/night
FORMAT: Country
COMMENT: $5K escrow deposit.
KIJN-AM/Farwell (Clovis), Texas
PRICE: $75,000
TERMS: Asset sale for cash
BUYER: Unidos Para Cristo (Mike Rodriguez, president); owns no other stations
SELLER: Metropolitan Radio Group (Mark Acker, president)
FACILITIES: 1060 kHz, 10 kW
FORMAT: Religion
BROKER: John Pierce & Co.
COMMENT: Payable in cash at closing; $7.5K escrow deposit.
KACE-AM(CP)/Bishop, Calif.
PRICE: $20,000
TERMS: Sale for cash
BUYER: Intermountain Media LLC (Jeffrey Bate, trustee); owns no other stations
SELLER: Legacy Media Corp. (Morgan Skinner Jr., president/CEO)
FACILITIES: 1340 kHz, 1 kW day/night
FORMAT: CP-NOA
KDAN-AM(CP)/Beatty, Nev.
PRICE: $20,000
TERMS: Sale for cash
BUYER: Intermountain Media LLC (Jeffrey Bate, trustee); owns no other stations
SELLER: Legacy Media Corp. (Morgan Skinner Jr., president/CEO)
FACILITIES: 1240 kHz, 1 kW day/night
FORMAT: CP-NOA
Information provided by:
BIA Financial Networks' Media Access Pro Chantilly, Va. www.bia.com 703-818-2425
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