Last August Steven Price’s Townsquare Media picked up radio stations in New York, Missouri and Texas in a group deal with Double O Corporation, for a pricetag pegged at a hair less than $12M. Now it has a deal that will bring back a portion of that cash total.
The market is Odessa-Midland TX, and the stations are KHKX-FM, KMCM-FM and KQRX-FM.
The buyer is Brazos Communications West LLC, headed by Tommy R. Vascocu, with backing from James J. and Claire Woodcock.
The price for the FM triplets will be $1.775M, with $200K accounted for in the form of a consulting agreement with Townsquare.
The Double O deal was memorialized in a contract dated 8/5/11, and involved numerous stations in several markets stretched across three states. RBR-TVBR pegged the price at $11.94M.
KHKX is a Class C1 licensed to Odessa on 99.1 MHz with 100 kW @ 407’.
KMCM, also licensed to Odessa, is also a C1, on 96.9 MHz with 100 kW @ 452’.
KQRX is licensed to Midland and is a C3 on 95.1 MHz, with 10.5 kW @ 505’.
All three stations throw a primary contour over both of the markets cities.
For Brazos, the cluster will mark its second smaller-market Texas outpost. It already is the owner-operator of a one-AM four-FM radio cluster in the Bryan-College Station Arbitron market.