In late December 2017, the FCC sought public comment on whether or not two Mexican citizens—one of whom is a major Univision Communications executive — should be allowed to purchase two FM radio stations in rural Arizona and California.
Nearly four years later, one of those two FMs is being spun.
Juan Carlos Rodriguez, the Coral Gables, Fla.-based Managing Member of Deportes y Música Comunicaciones LLC, is selling KQMX-FM 105.7, a regional Mexican station licensed to Lost Hills, Calif., that scrapes the Bakersfield market from the west.
The station, branded as “Qué Buena,” is being purchased by The De Alba Family Trust of 2000, headed by trustee Alfonso de Alba. It is a Bakersfield-based entity.
With Francisco Montero of Fletcher, Heald & Hildreth serving as the seller’s legal counsel, KQMX is being spun for $420,000.
Terms call for a $105,000 escrow deposit to be held by Montero. An executed Promissory Note accounts for the remainder of the funds owed, with three equal payments of $105,000 to be made some 6 months, 12 months and 18 months after closing.
Included in the deal are, among other items, a Nautel VS 2.5 kW xmtr (remote control inside) and Orban 5500 Audio Processor (inside xmtr).
Rodriguez became the head of Deportes y Música Comunicaciones after Media Bureau Audio Division Chief Albert Shuldiner in May 2018 ruled that he could make the purchase of KQMX and KRPH-FM 99.5, licensed to Morristown, Ariz. As such, Roberto Medina shifted his majority ownership to minority ownership.
At the time, the deal was noteworthy as it marked one of the first transactions allowing wholly foreign ownership of a U.S. radio station.
The current sale price is a stark reflection of current market valuations. In 2011, KQMX was purchased for $950,000.
