CP sale is chronicle of station trading in the slow lane


SoldThe scene is a small unrated town in western Texas, where an FM CP is going from a commercial to a noncommercial licensee. And even though the price is less than earth-shattering, the participants need to deal with unjust enrichment concerns.

The CP, which has not yet been assigned call letters, is for a Class A on 105.5 MHz with 600 W @ 328’. Its community of license is Ozona TX, far to the southeast of the Odessa-Midland TX market.

The seller is Big Cat Broadcasting LLC, headed by Carlton L. Fitch.

The buyer is non-profit Christian Ministries of the Valley Inc., headed by Enrique Garza.

The price is $7.5K cash.

Fitch won the CP during FCC Auction No. 79, bidding $5K and paying $3,750 thanks to a 25% bidding credit.

CMV holds licenses for AMs, FMs and CPs, including eight in Texas and one each in Minnesota and Nevada. As such, it is not eligible for the credit Fitch enjoyed.

The parties pledged on the transaction application to settle any unjust enrichment compensation implications with the FCC.