Only $20 cash is changing hands between Educational Media Foundation and two license companies headed by Victor A. Michael Jr., but in the end, EMF will be adding a station in Hawaii and Michael will be getting one in Colorado.
The sale of KGCO-FM Fort Collins CO was the first of the two to be accepted for filing by the FCC. The station will be going to Cedar Cove Broadcasting Inc., a non-commercial company held by Michael, Lori L. Michael and Mitchell A. Beranek.
KGCO-FM is a Class A on 88.3 MHz with 150 W @ 1,194’. It puts a primary signal over Fort Collins but does not have enough moxie to make it all the way to the Greeley CO portion of the market farther to the east.
The $10 deal is contingent on the closing of the Hawaii deal, which is for KMKV-FM Paia. (The calls were KLZY at the time the contract was written).
KLZY, located on the island of Maui, is a Class C2 on 102.9 MHz with 1.5 kW @ 2,283’.
The $10 deal is likewise contingent on closing the Fort Collins deal, and is being sold by Michaels’ Kona Coast Radio LLC. Kona Coast has the option to have an appraisal performed on the station in the event it decides to use the transaction as a charitable contribution for tax purposes.