Border Media Partners is trimming its portfolio prior to going into a trust, and has announced its second station sale this week, both in Texas. This time, the exiting station will be KWOW-FM in the Waco market.
The buyer, Waco Entertainment Group, LLC, will pay $1.3M cash for the station, according to brokers associated with the deal. Larry Patrick & Greg Guy of Patrick Communications represented the seller, and Patrick will be running the trust it’s headed for; Todd Fowler of Fowler Media Consulting represented the buyer.
Waco Entertainment is headed by William W. McCutchen III.
BMP has clusters in several Texas markets, but this is its only station in Waco. The group has been running a Mexican format on it.
RBR/TVBR note: Now available “Profitably Buying and Selling Radio Stations,” – RBR/TVBR’s ‘2010’ new book and guide to help chart a course through the treacherous waters of buying, owning and selling radio or television stations. A comprehensive resource which includes template agreements and advice to assist sellers, potential buyers, lenders and investors. Coauthored by Erwin Krasnow, John King and John Pelkey of Garvey Schubert Barer. Buy it now in paperback or ebook exclusively on line.
Click to purchase: “Profitably Buying and Selling Radio Stations,” or 1-800-288-4677, ext. 5022 for $49.95, paperback, $39.95, e-book.