Station trading: There


KFLX-FM is a new station serving the Flagstaff AZ market from nearby Chino Valley AZ. A deal has just been filed to send it from Grenax Broadcasting III to Grenax Broadcasting II. And the seller’s sole member will head what will be a four FM cluster.

The selling sole member is Greg Dinetz. It’s a sign of the times deal, involving debt forgiveness tied to a 4/13/07 $1.15M promissory note. Dinetz will wind up on the board of buyer Grenax II as President/CEO, one of five with a 20% stake. The others, three of which were selected by Private Capital Partners LLC and one by Dinetz, are Eric R. Miller, Thomas D. Barber, Michael Hooks and Susan Lee.

According to the BIA report provided with the local co-ownership study, 92.5 MHz KFLX is using a Hot AC format. It will join up with 105.1 Talk KBTK-FM Kachina Village AZ, 107.5 Country KSED-FM Sedona AZ and 96.7 Classic Rock KWMX-FM Williams AZ.

An earlier deal was filed in 2010 to trade the station to Tower Investment Trust for KZGL-FM Flagstaff, but it was listed as dismissed in the FCC database. Back in May of 2008, a deal to sell the station as a CP to Gold Water Radio Partners, headed by Edward F. Seeger, Andrew J. Guest and James C. Fort was filed, with a $3M price tag. It was approved by the FCC, but never made it to the finish line.

KFLX is a Class A with 1.5 kW @ 571’.