A group of investors calling themselves KAXT LLC will be taking the reins of KAXT-CA Santa-Clara-San Jose CA, part of the San Francisco DMA, in a deal valued at $850K. In a sign of the times, the compensation package is pure forgiveness of debt.
The seller is Broadland Properties Inc., headed by Warren L. Trumbly.
Principals of the buyer include Brad Donaldson, Ravi, Nalini and Rishi Kapur, Jeremy and Robyn Noonan and others.
The low power facility is headed to Channel 42 for digital purposes, but may be at the mercy of full power KTVU-TV Oakland, which was thinking about going there but picked Channel 48 instead. However, there is the possibility that the full power channel may yet change its mind, putting KAXT’s plans in disarray. The buyers acknowledge this possibility.
They are also taking on contracts for the station’s eclectic, multicultural lineup. Among the programs listed in the contract that will carry forward with the new owners are Cool Music Network, Que Huong Radio (TV), Tiempos Finales (Dios TV), Bahia TV, Diya TV, My Family TV, TellyTopia TV (i2TV), Coastal TV, Jewelry TV, Peanut TV, and La Voz.