Transactions: 8-19-10

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$12M KXMX-AM Los Angeles CA (Anaheim CA) from New Inspiration Broadcasting Company Inc., a subsidiary of Salem Communications Corporation (Stuart W. Epperson, Edward G. Atsinger III) to Korean Gospel Broadcasting Network (Chong Hee Yim et al). $1M earnest money, balance in cash at closing, with option to pay only $10M more at closing and provide $1M promissory note. LMA 1/1/10. Salem retains an AM and two FMs in the Los Angeles market. [FCC file date 8/6/10]


 


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