Randy Hood’s Pilgrim Communications, Inc. has sold a Colorado FM. KVLE is licensed to Gunnison, Colorado, which is in the southwest portion of the state, near a national forest by the same name.
The buyer is Bobcat Radio, led by president and director John Rees.
Rees also holds an interest in three other Colorado stations: KRCN(AM), Longmont, KSKE (AM), Buena Vista and KFCS (AM), Colorado Springs. He’s a licensee as an individual of KPKE(AM) and KEJJ(FM), both in Gunnison.
The price is $150,000 to be paid as a promissory note after the buyer’s obligation to pay the Tarpon Towers real estate lease payments have ended. The promissory note covers 15 years with a 4% interest rate. The monthly payments will be $1,109.53.
KVLE is a Class A FM with an ERP of 6,000 watts @ -458’ HAAT; it operates on 102.3 MHz.