Salvador Guzman owns WHEW-AM Franklin TV, due south and part of the Nashville market. Now, along with his brother, he’s extending his range westward with a deal for WPFD-AM Fairview.
The seller of WPFD is Fairview Broadcasting Inc., headed by Samuel Warden.
The price is listed in the contract as $100K payable at closing, but it will edge considerably north of that figure before all the dust clears. There is an additional $10K LMA initiation fee, and in a highly unusual contractual arrangement, the buyers, sellers and their representatives will get together to determine “an additional amount at closing for seller’s inventory.”
Another unusual aspect of the deal involves Salvador Guzman’s brother Victor. A citizen of Mexico, his stake in WPFD will amount to 20%. He owns no part of WHEW.
Although both stations are considered part of the Nashville market, they do not overlap.
WHEW-AM is programmed in Spanish. We suspect WPFD will head in that direction as well.