An AM-FM combo serving the Victorville, Calif., area inherited from its Reverse Morris Trust-fueled tax-free merger with CBS Radio are being spun by Entercom.
Who’s the buyer?
Say hello to El Dorado Broadcasters, which is using the licensee name “EDB VV LICENSE LLC” to acquire the following properties for $1 million:
- KVFG(FM), 103.1 MHz, Victorville, CA (Facility ID No. 72717)
- KMPS(AM), 910 kHz, Hesperia, CA (Facility ID No. 72716)
A $100,000 escrow deposit has been made to Entercom.
The deal also includes a secondary arrangement regarding the land where the KMPS tower site is. The land is to be listed for sale by El Dorado, with the use of a mutually agreed upon real estate broker. Half of the proceeds will go to Entercom, so long as they are received 24 months from the date of the listing and the net sale proceeds exceed $500,000.
El Dorado is led by Jason Wolff. He has attributable interest in Ohana Broadcast Company, owner of KUMU-FM, KQMQ-FM, KDDB-FM & KPOI-FM in Honolulu.
More germane to the Entercom deal is Wolff’s attributable interest in four other facilities serving the Victorville-Apple Valley area:
- KATJ-FM, Facility ID 29224, George, CA
- KIXA(FM), Facility ID 55181, Lucerne Valley, CA
- KIXW(AM), Facility ID 4, Apple Valley, CA
- KZXY-FM, Facility ID 57920, Apple Valley, CA
As such, Wolff will have control of four FMs and two AMs in this still-exurban area of the sprawling Los Angeles DMA, to the north of Riverside-San Bernardino via I-15.