Eugene Comedy Radio is acquiring KLZS-AM from Arlie & Company. They put down roughly 6% of the station price, but after that will have some time to come up with the rest.
The buyer has four principals, Max G. Williams, Michael A. Williams, Christopher S. Warren and Aaron J. Elkin.
The seller is headed by Suzanne Arlie and Teresa Bishow.
The price for the station will be $225K.
Check out the payment on the $211K in value remaining to be paid after the $14K down payment, which is spread out over three years:
Months 1-3: 0% interest, $0.00 monthly payment
Months 4-6: 5% interest, $937.50 monthly payment
Months 7-12: 8% interest, $1,500.00 monthly payment
Months 13-24: 12% interest, $2,250 monthly payment
Months 25-36: 13% interest, $2,437.50 monthly payment
The station is a Class C on 1450 kHz with 1 kW-U ND and good coverage of Eugene. It is currently using a good time oldies format.
RBR-TVBR observation: This is a smartly-executed deal. The above payment plan will give the new owners a chance to build up a head of steam before paying the bulk of the price for the station over a relatively short period of time. It is an excellent example of a buyer and seller working together to get a deal accomplished in a sluggish trading environment.
