A Class B facility serving the Metroplex has been sold by a media broker who gained possession of the AM station in a March 2015 bankruptcy auction conducted in conjunction with a Chapter 11 filing by James Crystal Enterprises.
The buyer, however, is not the one that was contracted to purchase the Dallas market property in February.In a transaction consummated May 26 and filed with the FCC on Wednesday (6/7), ACM JCE IV B LLC — an entity led by broker Mark Jorgenson — is selling KBXD-AM 1480 in Dallas to Hammond Broadcasting Group for $600,000.
Hammond is led by husband and wife John and Linda Hammond, who have attributable interest in two other stations: Hammond-owned Class B KHSE-AM 700 in Wylie, Tex. and Texoma Broadcasting’s Class D daytimer KVTT-AM 1110 in Mineral Wells, Tex.
Both stations serve the Dallas market in a simulcast, as “Fun Asia Radio.”
Thus, KBXD could return to serving the growing South Asian community in North Texas; in April all programming was suspended, replaced with a looped message soliciting an immediately opportunity to lease air-time through Mr. Hammond. KBXD most recently aired a “Bollywood” format, featuring Hindi music and programming targeting Indians across Dallas-Fort Worth.
Allocation of the purchase price sees $500,000 for the license and $100,000 for the tower and transmitter site equipment.
The sale of KBXD to Hammond negates an earlier plan to have Georgia-based Chris Muse purchase the station. Muse filed an asset purchase agreement for KBXD in May 2016.
With Hammond’s acquisition of KBXD, Jorgenson has sold all but one of the AMs once held by James Crystal Enterprises. In February, ACM JCE IV B LLC sold to Alpha Media directional two-pattern duo WFTL-AM 850 in West Palm Beach and WMEN-AM 640 in Royal Palm Beach for $2 million. The stations had been operated via a Local Marketing Agreement between ACM JCE and Alpha Media since August 2015.
In other TRANSACTIONS TODAY:
- Township Media has closed on its purchase of Class C 1kw KTAE-AM 1490 in Austin, Tex., from Genuine Austin Radio. As reported by RBR + TVBR, Township on April 14 agreed to sell KTAE for $750,000. Doug Ferber of DEFcom Advisors is the exclusive broker of record, representing the seller.