Border Media Partners is spinning one of its many Texas stations. Spanish-formatted KFON-AM is going to REO Radio Group LLC, as the rest of BMP gets set to head into a trust.
According to Larry Patrick of Patrick Communications, the price of the station is $1.4M. It puts out 1 kw day and night over 1490 kHz and is licensed to Austin TX. REO, headed by Richard E. Oppenheimer, already operates an Austin market FM, KLGO-FM Thorndale TX.
The troubled BMP group is in the process of being transferred to the Border Media Business Trust under Patrick’s care and feeding as trustee, an arrangement first announced last summer. 22 stations will be in the trust. Details of that transaction can be found here:
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