A pair of operators with multiple broadcast licenses are entering into a very unusual deal along the Pacific Coast of California. Not only is there no cash involved, there aren’t a whole lot of Watts, either.
Joseph Fiori is one of the parties. He is bringing Channel 4 K04RS-D to the table.
The other party is Keith Leitch’s One Ministries Inc. Leitch is bringing 103.1 MHz K276FY to the table.
The deal: a straight-up cash free swap.
The television property is licensed to San Juan Batista CA. It’s nominally in the Monterey-Salinas DMA, but is located to the northwest of Salinas, the northernmost of those two cities, so over-air coverage of the market is limited.
The FM property is licensed to Santa Rosa CA, a rated market located to the north of and embedded in the San Francisco market.
Fiori holds other low power television licenses, and this will be his sole audio-only property.
One Ministries is licensee of a large number of mostly low powered stations, both radio and TV, primarily located in California and Alaska. It has a few additional stations in other western states.