Word is in from brokerage firm Kalil and Co. that the deal sending KFTY-TV Santa Rosa CA to Una Vez Mas LP is now officially on the books. The station and its Azteca America network affiliation will be a good fit for the buyer. The station is in the San Francisco-Oakland-San Jose DMA.
The seller, High Plains Broadcasting Inc., is headed by James Martin – it got $5.2M cash in exchange for the station. Also on the seller’s side of the table is Newport Television, which owned some of the station’s non-license assets.
The buyer is headed by Randy E. Nonberg and Terry Crosby. They filed the deal with the FCC back on 7/26/11.
“My roots are in the Bay Area and my father owned one of the first Spanish-language television stations there. This is like a homecoming for me.” said Terry Crosby, Chairman and CEO of Una Vez Mas. “San Francisco is now the 9th largest Spanish-language television market with more than 390,000 Hispanic households and an ideal place for UVM to expand its footprint.”
Kalil says the buyers have 40 stations at various US locations.