Border Media Partners is spinning one of its many Texas stations. Spanish-formatted KFON-AM is going to REO Radio Group LLC, as the rest of BMP gets set to head into a trust.
According to Larry Patrick of Patrick Communications, the price of the station is $1.4M. It puts out 1 kw day and night over 1490 kHz and is licensed to Austin TX. REO, headed by Richard E. Oppenheimer, already operates an Austin market FM, KLGO-FM Thorndale TX.
The troubled BMP group is in the process of being transferred to the Border Media Business Trust under Patrick’s care and feeding as trustee, an arrangement first announced last summer. 22 stations will be in the trust. Details of that transaction can be found here:
http://www.rbr.com/radio/radio_deals/16000.html
RBR/TVBR note: Now available “Profitably Buying and Selling Radio Stations,” – RBR/TVBR’s ‘2010’ new book and guide to help chart a course through the treacherous waters of buying, owning and selling radio or television stations. A comprehensive resource which includes template agreements and advice to assist sellers, potential buyers, lenders and investors. Coauthored by Erwin Krasnow, John King and John Pelkey of Garvey Schubert Barer. Buy it now in paperback or ebook exclusively on line.
Click to purchase: “Profitably Buying and Selling Radio Stations,” or 1-800-288-4677, ext. 5022 for $49.95, paperback, $39.95, e-book.
