7.75M KTEK-AM Houston-Galveston TX (Alvin TX) from South Texas Broadcasting Inc., a subsidiary of Salem Communications Corp. (Stuart W. Epperson, Edward G. Atsinger III) to Businessradio Houston Licensee LLC, a subsidiary of Businessradio Network LLC (Daniel Frishberg, Jon Lundsford et al). 500K earnest money, 5.5M cash at closing, 1.75M note. Buyer will terminate LMA with Multicultural Radio’s KXYZ-AM. Seller retains KNTH-AM & KKHT-FM in the market. [File date 12/10/07.]
