Florida AM being sold to its tenant


TBA fees paid by Actualidad License 1020AM LLC will count toward the purchase price of a Miami-Fort Lauderdale AM station being sold by Adib Eden’s New World Broadcasting. The buyer gained the right to operate the station since mid-October of 2008.

The station is WURN-AM, serving the market from its city of license of Kendall FL. Actualidad is a subsidiary of Union Radio Network of Florida, which itself is a subsidiary of Ole Communications Media Services LLC. Its principals are Enrique Cusco, Eduardo Cusco and Jorge Gonzalez.

The price tag will be $7M. It includes a $252K deposit, another $252K for TBA fees run up from March to the end of May 2010, $588K for TBA fees from June through the end of the year, a $2.3M note, and cash.

The station will be the only FCC-licensed entity in the buyer’s portfolio.

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