In a transaction that sees Francisco Montero of Fletcher Heald & Hildreth serve as the buyer’s legal counsel, a Class B AM offering Spanish-language programming to the Hampton Roads of Virginia is trading hands.
A change in presentation isn’t expected, given the buyer.
With 5kw during daylight hours and 358 watts at night from 2 towers, WVXX-AM 1050 in Norfolk has provided Hispanic audiences a steady blend of Latin pop music under the “Selecta” brand.
It also uses an FM translator — W277DF at 103.3 MHz.
The AM dates back to when Davidson Media Group owned the station.
Today, Bill Hindlin’s Hindlin Broadcasting owns and operates “Selecta” — and it is now selling the AM and translator.
For $850,000, Latin Broadcasting Network is acquiring the properties.
Oh, there’s a 2012 Honda Odyssey included in the purchase, the Asset Purchase Agreement reads.
A 10% escrow deposit has been placed with Brooks Pierce McLendon Humphrey & Leonard.
Serving as the broker in this transaction is CMS Station Brokerage.
Latin Broadcasting is led by Luis Cortes, and this deal is his first involving a full-power broadcast station.