Todd Mohr’s Synergy Broadcast North Dakota, LLC has sold an FM.
KLTQ is licensed to New England, North Dakota, which is in the southwest portion of the state, near the Montana border.
The buyer is Digital Syndicate Network, LLC D/B/A DSN Radio, LLC. Guy Giuliano is the president and managing member and holds 100% of the assets.
Giuliano has an attributable interest in DSN Radio, LLC, licensee of: KDKT-AM. Beulah, N.D.
Synergy is the licensee of North Dakota stations KQLZ, Beulah and KLTQ, New England. However Mohr says the cities of licenses should be swapped in the FCC’s database and when the KLTQ closes its city of license will be changed to Beulah, some 72 miles northeast of New England.
The parties have entered into an LMA for programming purposes.
The price for KLTQ is $70,000. The buyer will pay $30,000 cash at closing. That will drop based on any funds advanced by the buyer to the seller plus any FCC legal fees incurred by the buyer related to the license renewal and engineering fees to set-up a target station STA site to resume broadcasts before closing.
The $40,000 balance will take the form of a promissory note and paid in installments of $1,333.33 per month for 30 months.
The seller will file for a CP to operate KLTQ in Beulah and operate the station as a Class A at a tower site specified by the buyer. The seller will pay the costs associated with that application.
Mohr also has an attributable interest in two Michigan stations, WKLA(FM), Thompsonville and WMTE-FM, Manistee.
