SAN LUIS OBISPO, CALIF. — Until March 2017, Hector Villalobos owned and operated three FMs and an AM serving agricultural areas tied to the Monterey-Salinas market. At the time, one of those FMs was sold.
Now, Villalobos is selling the two other FM stations.
Villalobos’ Wolfhouse Radio Group is agreeing to sell KRAY-FM in Salinas, Calif., and KMJV-FM in Soledad, Calif., along with K277AH at 103.3 MHz in Watsonville, Calif.
The buyer is California Ortiz & 2 Media, a Moreno Valley, Calif.-based operation that is a three-way partnership, with equal owner attribution to President Daisy Ortiz, Manager Eduardo Leon and VP Vanessa Diaz.
Wolfhouse is earning $900,000 from the asset sale, with a $100,000 deposit made by the buyer. The remaining funds will be represented by a Promissory Note.
Nancy Ory of Lerman Senter was the attorney representing Wolfhouse in this transaction. The buyer’s legal counsel is Mark Denbo of Smithwick & Belendiuk.
Wolfhouse will continue to own KTGE-AM in Salinas, pending a possible sale of this property.
KRAY is presently regional Mexican as “La Buena,” while KMJV is “Radio Lobo,” also offering regional Mexican programming.
The sale of KRAY and KMJV follow the March 15, 2017 sale of KEXA-FM 93.9 in King City, Calif., to Inspiration Media Network for $775,000.
