Odessa file: Noncommercial FM sold
Another college has decided to let its broadcast outlet go, and as is common in such transactions, it has written the maintenance of a long-term relationship with the sold station into the contract. The station is KOCV-FM Odessa TX.
Selling the station is Odessa Junior College District. The buyer, expanding its west Texas group into Arbitron rated territory, is Marfa Public Radio, headed by John Jennings and Ginger Reeder.
The deal is valued at $300K. Half of that will be in cash; the other half gives the seller $150K worth of promotional underwriting and on-air recognition for a period of ten years. Additionally, the buyer has pledged to set up an internship program that will benefit students.
An LMA is scheduled to begin 9/1/11.
One thing the buyer will be expected to do is move to new digs – it is expected to get FCC approval for a move off campus and complete it by 3/1/12.
Marfa is the owner/operator of KRTS-FM in Marfa TX, and has CPs for another FM in Marfa and one in Alpine TX; all three are in unrated territory southwest of the Odessa-Midland Arbitron market where KOCV-FM is located.
Filed Under Radio Deals