Deals
By BIA Financial Networks -- Broadcasting & Cable, 7/20/2009 2:00:00 AM
TV
KALO (DT)/Honolulu, Hawaii
PRICE: $1 million
BUYER: One Love Outreach (David Tipton, president)
SELLER: Pacifica Broadcasting (Christopher Racine, president)
FACILITIES: Ch. 38, 206 kW, ant. 1,900 ft.
AFFILIATION: Ind.
KUKC-LP/Kansas City, Mo.
PRICE: $1 million
BUYER: Silver Point Capital LP (Edward Mule, director)
SELLER: Equity Media Holdings Corp. (Jason Roberts, secretary)
FACILITIES: Ch. 48, 12.7 kW, ant. 986 ft.
AFFILIATION: Univision
BROKER: PatrickCommunications
KLAO-LP/Corpus Christi, Texas
PRICE: $150,000
BUYER: Hosanna Apostolic Ministries Broadcasting Corp. (Gaspar Cota, president)
SELLER: Daniel Gomez
FACILITIES: Ch. 51, 10 kW, ant. 397 ft.
AFFILIATION: Ind.
COMMENT: $150K paid in full.
KLRA-LP/Little Rock and KEJC-LP/Sheridan, Ark.
PRICE: $100,000
BUYER: Silver Point Capital LP (Edward Mule, director)
SELLER: Equity Media Holdings Corp. (Jason Roberts, secretary)
FACILITIES: KLRA-LP: Ch. 58, 50 kW, ant. 486 ft.; KEJC-LP: Ch. 47, 104.6 kW
AFFILIATION: KLRA-LP: Univision; KEJC-LP: MyNetwork TV
BROKER: PatrickCommunications
RADIO
WFNO-AM/Norco (New Orleans), La.
PRICE: $1.4 million
TERMS: Asset sale for cash
BUYER: Sunburst Media (John Borders, president/director); owns four other stations, including KCIL-FM/New Orleans
SELLER: Davidson Media Group LLC (Felix Perez, president/CEO)
FACILITIES: 830 kHz, 5 kW day/750 W night
FORMAT: Spanish/Christian
COMMENT: $1.35 million cash at closing, including $100K escrow deposit, plus $50K holdback in escrow. Purchase price includes consideration fornon-compete.
WGMF-FM/Tunkhannock (Wilkes-Barre/Scranton), Pa.
PRICE: $1 million
TERMS: Cash plus additional considerations
BUYER: Family Life Ministries (Rick Snavely, president); owns 14 other stations, including WCIG-FM/Wilkes-Barre/Scranton
SELLER: GEOS Communications (Benjamin Smith, general partner)
FACILITIES: 107.7 MHz, 1 kW, ant. 725 ft.
FORMAT: 1970sOldies
COMMENT: $50K escrow deposit, plus $500K cash at closing, plus $450K balance payable as follows: all at closing; or $150K on Dec, 31, 2009, June 30, 2010, and Dec. 31, 2010; or $12.5K monthly for 36 months starting one month following closing. Additional considerations: Buyer to assign to Seller its license for FM translators W236BB and W290BS; Buyer to donate FCC license to WCIG to Telikoja Education Broadcasting; Buyer and Seller to share costs of any transfer fees; Buyer to be responsible for dismantling antennas purchased from Seller.
KQLX-FM & KQLX-AM/Lisbon (Fargo-Moorhead), N.D.
PRICE: $750,000
TERMS: Asset sale for cash and note
BUYER: Great Plains Integrated Marketing (Scott Hennen, president/CEO); owns two other stations, including WZFG-AM & KEGK-FM/Fargo-Moorhead
SELLER: Sheyenne Valley Broadcasting (Terry Loomis, president)
FACILITIES: KQLX-FM: 106.1 MHz, 100 kW, ant. 715 ft.; KQLX-AM: 890 kHz, 2 kW
FORMAT: KQLX-FM: Talk; KQLX-AM: Information
COMMENT: $250K cash at closing, including $20K escrow deposit, plus $500K promissory note.
WLKN-FM/Cleveland (Sheboygan), Wis.
PRICE: $600,000
TERMS: Asset sale for cash
BUYER: Seehafer Broadcasting Corp. (Don Seehafer, president/GM); owns six other stations, none in this market
SELLER: Radio K-T (Jack Taddeo, president)
FACILITIES: 98.1 MHz, 6 kW, ant. 292 ft.
FORMAT: AdultContemporary
BROKER: Kozacko Media Services
COMMENT: Payable in cash at closing; $35K escrow deposit.
Information provided by: BIA Financial Networks' Media Access Pro Chantilly, Va. www.bia.com703-818-2425
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