KVVV-LD is being sold out of bankruptcy by Lee Shubert, who has found a buyer for the Channel 15 facility. Abraham Telecasting Company is stepping up to acquire the station.
Shubert is listed as the liquidating trustee for Pappas Telecasting of the Gulf Coast.
The buyer’s principal is Thomas Abraham.
The price for the station will be $850K. $25K was put into escrow, another $475K is due in cash at closing and the remaining $350K will be handled via seller paper.
Abraham is scheduled to take the reins of the station by the end of the week under a TBA kicking off 2/1/13. The rental fee is a nominal $1. However, Abraham will also be responsible for expenses.