A deal for a new FM in the Phoenix market has come to fruition, and so has another deal for a heritage AM station well to the south of Dallas. The prices were $2.75M and $1.25M respectively.
The Phoenix station is KRPH-FM Morristown AZ. It was acquired as a CP by Deportes Y Musica Comunicaciones LLC, a subsidiary of Grupo Multimedia LLC, headed by Roberto de Jesus Medina. In fact, it was agreed that $450K of the purchase price was to be allocated to construction of the facility. News of the closing came from brokerage of record Kozacko Media Services.
It took awhile for the deal to be completed – it was filed 4/12/10.
The signal – a C2 with 50 kW @ 492’, is centered to the northwest of Phoenix, and the contour snuggles up to but doesn’t quite make it over the city limits.
Grupo also has a $950K deal in the works for KQMX-FM CP Lost Hills CA in the Bakersfield market. Both the Phoenix and Bakersfield stations are being sold by Rick Deitrick’s Magnolia Radio Corporation.
The other station is KBEC-AM Waxahachie TX. The license company, Faye and Richard Tuck Inc., is being sold by Jeanne Tuck Mosely , Sandra Tuck Howell and Kenneth Hays Roberts, and being bought by James R. Phillips and Ann E. Phillips. Bill Whitley of Media Services Group was the broker.
The Class B facility plays Classic Country on 1390 kHz with 480 w-D, 260 W-N, DA2. Its local orientation is definitely tied to the limitations of the signal. The secondary daytime contour makes it as far as Fort Worth, but does not reach Dallas.
The station is not the only asset being transferred. $714K is allocated to the stock of the company, and $536K is allocated to real estate, which includes two separate pieces of property.