Benjamin Nava is on his way to becoming the owner of an FM radio station presently offering Classic Country tracks to listeners in the Fort Collins-Greeley, Colo., market.
Nava-led La Guapa Broadcasting Ideas on July 2 signed an asset purchase agreement that puts the wheels in motion on his acquisition of KYAP-FM “K96.9” in Nunn, Colo., to the north of Fort Collins.
The assignor is the Edward Flanagan-led Appaloosa Broadcasting Co. Inc., a licensee linked to the late Steven Silberberg, who died in January 2021. Jacob Silberberg, as VP, signed off on the deal.
With Barry Friedman of Thompson Hine serving as Appaloosa’s legal counsel, it is set to earn $200,000 from the sale of KYAP to Nava’s group, represented by Stephen Lovelady at Shainis & Peltzman (serving as special counsel).
A $50,000 deposit is being held by Richmond Law Firm of Bedford, N.H., as escrow agent.
Terms of the deal include Nava’s assumption of a KYAP tower lease with American Tower Corp.
At present, KYAP is being operated by Loud Media, an entity formed in 2020 by former British radio industry figure Ricki Lee and Aaron Ishmael.
