A station that has passed through the portfolios of the old Ackerley Group as well as Clear Channel back when it owned TV stations is now on its way to Sainte Partners in a debt forgiveness deal. The station is CBS 17 KVIQ.
The seller, who acquired the station from Clear Channel back in the day, is Raul Broadcasting Company of Eureka, headed by Raul Palazuelos.
Sainte Partners is a subsidiary of Sainte Network Corporation. The primary shareholders are all women – Naomi Smith has 50%, with 17% each in the control of Roxanne Storey, Lorna MacIntosh and Laura Castro. Rob Castro is CEO.
Sainte has been providing advertising representation for the station dating back to 4/25/04, and a year later to the day entered into a purchase option for the station.
It is now getting the station for $1.1M – all of it in the form of debt foregiveness.
The deal also includes five television translators.
Eureka CA inhabits the nether regions of the market rankings, weighing in at #194 on the Nielsen DMA list.