Weeks Broadcasting picks up a pair in Texas


Cynthia, Tatum and John Weeks are Weeks Broadcasting Inc., and they have two separate deals filed with the FCC to get an AM and an FM in Texas, east of the Odessa-Midland Arbitron market.

For starters, Weeks is getting KBYG-AM Big Springs TX from David M. Pappajohn. The price is $150K. Weeks will settle all payable bills. If there is cash leftover from the $150K commitment, it’ll go to Pappajohn. On the other hand, if the $150K isn’t enough to clean the slate, Pappajohn will have to pay off the rest.

Weeks is also acquiring KXCS-FM Coahoma TX, a town just to the east of Big Springs. That deal is for $140K cash. The station has been silent since 5/6/10 on an STA that is good until 2/13/10. If the deal hasn’t closed by then, the seller has promised to apply for an extension.

RBR-TVBR note: If you read this article, chances are you have more than a casual interest in the buying and selling of media properties. Much of what goes into a deal goes into the contract, and knowing what kinds of things should go into the contract can help you make a better deal. RBR-TVBR has just the book for you: a guide to deal-craft that will pay for itself.

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