A May 2010 deal for the acquisition of KTSN-AM in Elko NV fell through, providing an opportunity for a new buyer to step forward. That buyer is Northern Nevada Media Inc., which has a new deal to buy the station from Humboldt Broadcasting LLC.
The earlier deal the seller, headed by Ralph J. Carlson, sending the station to Ruby Radio, headed by Mary A. Sutherland. The $175K transaction never made it to the finish line, however.
Carlson will lose $5K in striking a new deal with NNM, which has agreed to pay $170K for the station. It’ll put down a $10K deposit, pay $40K cash at closing and strike a note for $120K to finish off the compensation package.
The buyer’s principals are Fred Weinberg, Allen Mishkin and Pacific Publishing Co., primarily controlled by Peter Bernhard.
The station, located in the northeast quadrant of Nevada, will constitute new territory for Weinberg and partners. On the contract, they mentioned three stations already in the portfolio – KELY-AM Ely NV and KWNA AM-FM Winnemucca NV – but noted that they are all well over 100 miles away from KTNS.
NNM began LMAing the station 9/1/10. It’s a Class C on 1340 kHz with 1 kW day and night.