The Memphis radio market has a unique Class D translator at 99.3 MHz serving its east side and the city of Germantown, fed by a Class D AM with 2 towers and 5kw watts during daylight hours. It is paired with another FM translator, at 101.5 MHz, that covers downtown from West Memphis, Ark.
The AM has just 26 watts at night, but both have taken the “Guess” work out of where to tune to for Classic Hits in a city made famous by the likes of Elvis Presley, B.B. King and Rick Dees — at least until now.
Four weeks after another AM and FM translator used to bring “Guess” to Memphis were sold, the other half of the operation has been dealt.
In mid-May, Classic Hits Class D WUMY-AM 830 and FM translator W288BJ at 105.5, known as “Guess FM,” were sold to Global Ministries Foundation by Memphis First Ventures.
GMF is assuming tower leases forged by the seller in 2012, and will pay Memphis First Ventures $27,823 in tower reimbursement credit under the November lease plus a $30,000 advance payment for the January tower lease. This puts the aggregate price at $706,823.
Now, in an Asset Purchase Agreement dated June 6 and filed with the FCC on Monday (6/18), Memphis First Ventures and affiliated licensee are selling Class D WGUE-AM 1180 in Turrell, Ark., and FM translators K268DA at 101.5 MHz and W257CY at 99.3 MHz to Butron Media Corp.
The total purchase price for this deal: $799,000.
A $65,000 downpayment has been made in addition to a $165,000 cash deposit. At closing, the buyer will assume responsibility of a $569,000 sellers’ note. The Sellers’ Note shall
have an 84-month term, payable in monthly installments of $6,995.00 per month during the first year, $7,495.00 per month during the second year, $7,995.00 per month during the third year, $8,495.00 per month during the fourth year, $8,995.00 per month during the fifth year, $9,495.00 per month during the sixth year, $9.995.00 per month during the seventh year, with a balloon payment of $25,030.32 due at maturity, and shall accrue interest at an annual rate of 7%.
A change in format is all but a foregone conclusion: WUMY and its translator will take a non-secular programming choice, while WGUE and its translators will become home to Radio Tequila or similar Spanish-language programming. Radio Tequila is led by Butron Media head Sergio Butron.
Butron is in the process of acquiring Nuevo Radio Ambiente, the Time Brokerage Agreement partner of WGSF-AM in Memphis.
The WGUE deal marks Butron’s entry into broadcast media ownership.