Phoenix FM outlier moving in debt deal


DebtAble Radio Corporation successfully fended off a challenge from Entravision as it tried to build a new FM on the outskirts of Phoenix AZ. But it could not hold off its creditors any longer.

Able, headed by Stephen M. Hackerman, has a CP for Aguila AZ. It’s supposed to be a Class C2 on 107.3 MHz, with the standard B-flat C2 parameters of 50 kW @ 492’.

The company has faced numerous hurdle getting the station built, and that became the basis of the Entravision challenge.

In a nutshell, the Able station will have a signal centered near Wickenburg and will approach but not reach Phoenix from the northwest. Entravision, meanwhile, has KVVA-FM Apache Junction, a Class C3 on spot removed from the Aguila CP on 107.1, reaching parts of Phoenix from the southeast.

The FCC sided with Able, noting that the company kept the FCC well-informed as it navigated a series of unforeseen obstacles, and stated that when possible it grants leeway. The effort chronicled by Able was evidence against Entravision’s suggestion that Able did not prosecute construction of the station adequately.

However, Matinee Media Corporation has just filed an FCC Form 314 transfer application to take over the station. Matinee is a joint receivership comprised of an individual – Bernay Box; and a company – Bonanza Capital Ltd.

The station is valued at $1,983,393.20, termed debt forgiveness.

This is the second time Matinee has forgiven debt in exchange for taking over broadcast licenses. It is forgiving $542,900 in debt from Magnolia Radio Corporation and taking over three FMs: KCOO-FM Waterloo-Cedar Rapids IA (Dunkerton IA); KQNO-FM Coalinga CA; and WZHL-FM Laurel-Hattiesburg MS (New Augusta MS) in a transaction filed with the FCC 5/14/12.