Paying the price for Price


KSLL-AM and KWSA-FM are en route to a new owner as well as keeping the old one. The combo is licensed to Price UT. The buyer is Anthony J. Basso’s AJB Holdings LLC. The seller, Randy J. Timothy’s Against the Wind Broadcasting Inc., will get $277K.

The terms of the deal are interesting. $20K is going into escrow, then Basso will pay $10K per month starting 5/1/09 and going as far into the future as 11/1/09, if the deal hasn’t closed by then. $27K will be used to retire credit card debt, and whatever is left after all of this will be paid in cash at closing.

The contract also stipulates that seller Timothy will remain as an employee of the station at this current rate of pay.

Both stations play the Classics – Classic Country at KSLL-AM and Classic Rock at KWSA-FM. Price is in unrated territory. If you think of Utah as a rectangular dart board, it would be just east of the bull’s eye.