BusinessRadio Network is getting a Texas O&O AM to replace a property it’s renting from Multicultural radio – a story we wrote back on 12/11/07. But that was a Houston story. This time, the venue is Dallas-Fort Worth. The station is KJSA-AM, licensed to Mineral Wells TX. Gary L. Moss and his M&M Broadcasters is the seller. BusinessRadio, headed by Daniel Frishberg and John Lundsford, will acquire the station for 7.5M. 2M of that may be paid pursuant to a promissory note, but the buyers have the right to pay the whole amount at closing, in which case they will enjoy a 300K discount.
In the earlier Houston acquisition – they picked up KTEK-AM from Salem for 7.75M – the deal eliminated the need for the LMA of Multicultural Broadcastings’s KXYZ-AM. In this case, another Multicultural LMA will cease to exist. This time, KMNY-AM Hurst TX is the station looking for a new renter or a new programming strategy from the official owner.
