An armada of low power facilities owned by Viacom and licensed to Caballero Acquisition were to be sold to an actual Cabellero last summer, but the deal did not make it to the finish line. Brokerage Kalil and Co. has lined up a new buyer.
The deal includes two Texas outlets and seven in California:
* KGBS-CA Austin TX
* KGMM-CA San Antonio TX
* KMMA-CD San Luis Obispo CA
* KMMC-LD San Francisco CA
* KMMD-CD Salinas CA
* KMMW-LD Stockton CA
* KMUM-CA Sacramento CA
* KQMM-CD Santa Maria CA
* KZMM-CD Fresno CA
The previous deal was filed 6/20/12. The buyer was to have been CAI License Company LLC, a subsidiary of Cabellero Spanish Media with principals Eduardo Cabellero and Peter J. Spengler. The price was $3M.
The new deal has the stations going to CNZ Communications LLC, headed by Terrence E. Crosby, Randy E. Nonberg and Greg Waltrip.
The good news for Viacom is that Kalil helped strike a deal for the same $3M. The better news is that it’s a cash deal – the previous deal included $2M in seller paper. CNZ will hand a $300K escrow deposit over to Kalil for safe-keeping and pay the full amount at closing.
Two of the CNZ principals, Crosby and Nonberg, have interests in another television group – Una Vez Mas. UVM owns a full power station in California and two more in Texas. Additionally, it has five low power station in California, and one each in Nevada, Arizona, Texas, Louisiana and Florida.
CNZ will be expected to cease any business references to Viacom, including the use of the MTVM, MTV or MTV Tr3s.