Thomas and Cheryl Hodgins and their Alexandra Communications are getting an AM in Tillamook OR in the unrated northwestern portion of the state. But they aren’t content with its KMBD calls, so they have also made provisions to acquire FM calls from a third party and change the calls of the AM – and the targeted KTIL handle will fit the market perfectly.
The seller is Oregon Eagle Inc., headed by Van Moe. Moe will get $150K once the smoke clears, but that will take some time. The compensation breakdown provides for a $5K escrow deposit, an additional $15K cash at closing and a promissory note for $130K.
Meanwhile, Alexandra, with the seller’s assistance, will acquire the rights to the KTIL-FM call letters from Bustos Media (which is also buying a station from Moe in a separate deal). Alexandra will apply the calls to its KIXT-FM Bay City OR. Oregon Eagle will also assist in changing KMBD(AM) to KTIL(AM). Finally, Oregon Eagle will run spots saying that KTIL-FM is moving from 94.3 MHz (the Bustos-headed FM) to Alexandra’s 95.9 MHz slot, and that KTIL(AM) is making its return to the local airwaves.
In addition to KIXT-FM, Alexandra owns KDEP-FM Garibaldi OR, leading to the creation of a one-AM, two-FM radio trio.
According to the contract, brokerage MCH Enterprises represented the buyer and Exline Company represented the seller.
RBR-TVBR note: Now available RBR-TVBR’s ‘2010’ new guide to help chart a course through the treacherous waters of buying, owning and selling radio or television stations.
Click to purchase: “Profitably Buying and Selling Radio Stations,” or 1-800-288-4677, ext. 5022 for $49.95, paperback, $39.95, e-book.