Terry and Sanford Cohen will pay both the seller and the FCC to acquire the rights to build a new station located in Grand Canyon Village AZ. The FCC comes into play since it will want to be reimbursed for the seller’s bidding credit.
The Sanford’s company is ITM LLC. They own four other stations in Arizona, none of which are in the same market as the CP in question. Grand Canyon Village is in unrated territory.
ITM will pay $62K in all for the station — $42.4K will go to seller John G. Wengert, and $19.6K will go to the FCC to make up for Wengert’s 35% bidding credit.
The CP is for a Class C1 on 102.5 MHz with 51 kw @ 266’.