KSIX-AM is not the biggest megaphone in the market, but it will scoot right to the top of the William C. Doerner Corpus Christi broadcast group, which consists of two FM translators and a CP for a digital LPTV. Doerner and his partners have been LMAing the station for most of 2010.
The station is coming from Withers Family Texas Holdings LP, headed by James Withers. Doerner’s license company name is SportsradioCC LLC, and his partners are Valerie Smith and Larry Roberts.
The station is a Class C on 1230 kHz with 720 W-U on a non-directional antenna. Doerner’s other properties in the area include K277BL Corpos Christi, K241AT Four Bluff and K46KC-D CP Four Bluff. Low power facilities do not figure into the equation when calculating compliance with local ownership caps.
The price is $350K. The buyers will plunk down $25K into an escrow account, and the rest of the price will be financed by the seller via promissory note. An LMA was entered into 2/1/10 calling for SportsradioCC to pay $1,750 month.
The buyer will be replacing Withers in contracts with Disney/ABC’s ESPN Radio and with baseball’s Houston Astros.
RBR-TVBR note: If you read this article, chances are you have more than a casual interest in the buying and selling of media properties. Much of what goes into a deal goes into the contract, and knowing what kinds of things should go into the contract can help you make a better deal. RBR-TVBR has just the book for you: a guide to deal-craft that will pay for itself.
Click to purchase: “Profitably Buying and Selling Radio Stations,” or 1-800-288-4677, ext. 5022 for $49.95, paperback, $39.95, e-book.