Michaels spins another new FM

0

This one is licensed to Ingram TX – it’s going from Randy Michael’s Radioactive LLC to Radio Ranch Ltd., and will partner up with an owned FM and another operated under an LMA. The station is KSYY-FM.


Buyer Radio Ranch is owned by Lyndell M. Grubbs and Nancy K. H. Grubbs. They’ll ultimately pay $475K for the station, which they’ve had under an LMA contract since 5/8/07. Three sets of option payments are said to have been made, totaling $375K, and according to a contract amendment, RR will pay half of the remaining $100K on 4/10/10, and the other half – with interest – on 9/10/10.

The official seller of KSYY is Benjamin L. Homel – the real name underlying the Randy Michaels moniker.

Ingram is in unrated territory about 70 miles northwest of San Antonio. It is right next to Kerrville TX where RR owns KRNH-FM and is LMAing KKVR-FM.

KSYY-FM successfully obtained a modification which allowed it to upgrade from Class A as proposed at its birth to Class C3. It’s on 96.5 MHz, with 8.4 kw @ 430’.

RBR/TVBR note: Now available “Profitably Buying and Selling Radio Stations,”RBR/TVBR’s ‘2010’ new book and guide to help chart a course through the treacherous waters of buying, owning and selling radio or television stations.
“Profitably Buying and Selling Radio Stations,” is now available coauthored by Erwin Krasnow, John King and John Pelkey of Garvey Schubert Barer.
The 2010 profitably book is a comprehensive resource which includes template agreements and advice to assist sellers, potential buyers, lenders and investors.
Buy it now in paperback or ebook exclusively on line from RBR-TVBR.
Click to purchase:  “Profitably Buying and Selling Radio Stations,”
or 1-800-288-4677, ext. 5022 for $49.95, paperback, $39.95, e-book.