The movement of commercial stations into the hands of non-commercial operators has been one of the deal-making motifs of the last several years, and although the flow seems to have slowed of late, we have another one to report: KLHC-AM Bakersfield CA.
The seller is Force Broadcasting LLC, headed by Harold W. Gore, Cordell J. Overgaard. Their Gore-Overgaard Broadcasting will have one station left after the sale of KLHC closes, KBIF-AM Fresno CA.
The buyer is Centro Cristiano Vida Abundante Inc., headed by Manuel S. Sanchez.
The price is $600K in a deal that is two-thirds back-loaded. CCVA will pay $200K in cash and will pay of the remaining $400K pursuant to terms of a promissory note.
The price is somewhat lower than the last time it was sold. Force bought the station as KBID-AM from American General Media pursuant to an 8/24/05 contract for the $600K, and paid an additional $325K for the tower real estate, an asset included in the current deal, so ultimately this deal represents a $325K loss of value.
The station is already using a Hispanic Christian format. It’s is a Class D on 1350 kHz with 1 kW-D, 33 W-N, ND. It blankets Bakersfield during the day and still throws a primary signal over most of it with its limited nighttime power.
CCVA also owns radio stations KDBV-AM Salinas CA, KIRV-AM Fresno CA, KJDJ-AM San Luis Obispo CA and low power television outlet KYUM-LP Yuma AZ.