KRPH-FM CP, an FM-to-be DIY project, is being sold. The station is licensed to Morristown AZ, west of Phoenix. Rick Deitrick’s Magnolia Radio Corporation is selling the station to Deportes Y Musica Comunicaciones LLC.
The buyer is a subsidiary of Grupo Multimedia LLC, headed by Roberto de Jesus Medina. This will be its first radio station.
The price is $2.75M, broken into many bits and pieces. First there is a $150K execution payment to commemorate the contract signing; $400K will be paid when the FCC grants a CP modification; up to $450K will be paid to construct the station; $900K cash will be paid at closing, and whatever is left will be paid upon submission to the FCC of program test authority.
Kozacko Media Services, which handled brokerage chores, will also hold $50K in escrow for the parties. Kozacko’s George W. Kimble was the broker of record.
The CP is for a Class C2 on 99.5 MHz with 50 kw at 492’.
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