Kona Coast Radio is dealing away its home for Mile High Sports in Denver.
It should. That’s because the asset purchase agreement, filed Thursday (4/13) with the FCC, comes two years and five months after an agreement was struck between the two parties for a different AM that once held the calls and programming for the station involved in this deal.
Kona Coast is the Wyoming LLC controlled by Vic Michael, and in a transaction valued at $464,000, it is transferring two-pattern Class C Sports Talker KDCO-AM 1340 in Denver and FM translators K284CI at 104.7 MHz in Denver and K225BS at 92.9 MHz in Longmont, Colo., to 4-K’s LLLP. The translators are licensed to Michael’s Mountain Community Translators LLC, and the allocation of the total purchase price will see $232,000 go to each of the licensees.
The buyer’s principals are comprised of one-third owners Gregory, James and Jeffrey Merilatt. They own no other broadcast stations, but have been owners once before: Some 2 1/2 years ago, the trio bought another Denver AM … which had the KDCO call letters.
In November 2014, RBR + TVBR reported that the Merilatts would be acquiring the AM, which is now Class B KKCL-AM 1550 “The Cloud,” and translator K231BQ at 94.1 MHz in Golden, Colo., for a total price of $550,000. At the time, Gregory Merilatt held 88% of 4-K’s LLLP, while Jeffrey K. and James K. Merilatt each held 5.5% of the company; all three are now equal owners of 4-K’s.
The sale of what is now KKCL led Michael to shift “Mile High Sports” to its current facility. Its fate under the Merilatt family is not known, although Gregory Merilatt is an avid fan of Denver sports teams — based on his Twitter feed.
The Merilatts have paid a $10,000 escrow deposit to Michael, with the remainder due at closing. The family’s legal counsel in this transaction is Kathleen Victory of Fletcher Heald & Hildreth.
The KDCO divestiture comes just weeks after Michael engaged in a swap involving several translators and a pair of FM stations in Maui, Hawaii.