The contract for the sale of KRRN-TV Reno and a platoon of associated Class A and low power television stations has hit the FCC. Walter Ulloa’s Entravision will be establishing a cross-ownership platform there if and when the deal closes, pairing it up with its own KRNV-FM, which airs a Regional Mexican format. Entravision is plunking down a $200K escrow payment and will fork over the rest of the $4M price tag at closing, in a deal struck with bankruptcy trustee E. Roger Williams, who is representing Pappas Telecasting, and will also strike up a time brokerage agreement to run the station pending closing. Since the bankruptcy court is involved, the deal is subject to a higher bid – in the event that happens Entravision will be entitled to a $125K break-up fee and up to $75K in reimbursed expenses, not to mention some of its TBA costs.
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