New owners break into Visalia


Robert Eurich’s New Visalia Broadcasting has opted to sell the business, sending a Visalia-Tulare CA station to a group of local owners. The station is KSLK-FM, licensed to Visalia, and it’s going to New Valley Broadcasting Inc. The buyer is headed by Michael R. Kerr, Anthony J. D’Addato and Mark E. Lane. They’ll pay $2.5M cash, with an option to fund the last $500K via a promissory note. An LMA was scheduled to begin 10/22/08.