Investors moving out of MOViN 97.5


Trumper Radio Partners is taking over 100% ownership of KMVA-FM Phoenix – and full responsibility for its debt – as the venture capital investors in the station move on.

The letter of intent filed with the FCC says Trumper Radio Partners, owned 89% by veteran broadcaster Jeff Trumper and 11% by CFO Todd Plunkett, will pay $1 to buy out the interests of MC Venture Partners V LP, MC Venture Investors LLC, Peppertree Capital Fund LP, Providence Growth Investors LP and Providence Growth Entrepreneurs Fund LP in Trumper Communications III LLC. The final contract, still being negotiated, will include an “earnout payment” under certain circumstances when the station is sold or merged.

Trumper and his equity backers bought KMVA in 2004 for $21.7 million.