Bustos busted: Group merging into creditor company


The conventional wisdom is buy cheap, sell dear. Circumstances, however, conspired to create a situation in which Bustos Media bought at the height of the station trading market, only to plunge into the bottom of the operating market. As a result, the radio and television group (mostly radio) will be transferred to NAP Broadcast Holdings LLC.

NAP stands for three of the group’s lenders — NewStart, Atalaya & Prudential. Alta has an interest as well, along with others.

Principals Amador and John Bustos will be exiting the company. Staying on to run it on an interim basis will be Jay Meyers.

In a message to employees, Amador and John Bustos said, “We all worked hard to develop the new emerging Hispanic markets, but the economic downturn and the timing of our purchases were not favorable. We appreciate the trust our equity partners placed in us. We appreciate as well as the patience our senior lenders had as we worked to restructure our debt. I am confident that with the support of the new ownership the staff will continue to build these stations to their fullest potential.”

They concluded, “This is not ‘adios’ but ‘hasta pronto.’  In business, like in life, we all go through a series of chapters.  One closes and another one opens.”

Here is the list of stations implicated in the transaction:

* Modesto CA

KBBU-FM Modesto CA

* Sacramento CA

KBAA-FM Grass Valley CA

KLMG-FM Esparto CA

KGRB-FM Jackson CA

KSTV-LP Sacramento CA

* Boise ID


KQTA-AM Homedale ID

* Portland OR

KOOR-AM Milwaukie OR

KGDD-AM Oregon City OR

KLPM-AM Portland OR

KRYN-AM Gresham OR

* Salt Lake City UT

KTUB-AM Centerville UT

KDUT-FM Randolph UT

KBTU-LP Salt Lake City

KBMG-FM Evanston WY

* Seattle-Tacoma WA

KTBK-AM Auburn-Federal Way WA


* Tri-Cities WA

KZTB-FM Milton-Freewater OR

KMMG-FM Benton City, WA

* Wenatchee WA

KULE-AM Ephrata WA

KULE-FM, Ephrata WA


* Yakima WA

KDYK-AM Union Gap WA

KDYM-FM Sunnyside WA


* Milwaukee WI

WDDW-FM Sturtevant WI

WBWT-LP Milwaukee WI

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