In mid-May RBR+TVBR‘s TRANSACTIONS TODAY reported on the sale of a Class D AM, an unbuilt FM, and two Class C3 FMs in the Lone Star State to Monte Spearman-led High Plains Radio Network.
This deal is now closed, and Spearman is paying the seller a little more than he originally thought. That’s because he’s grabbing another AM from the seller, and the unbuilt FM is no longer involved in the sale.
It’s our lead deal for Monday, Oct. 23, 2017, and it sees Doug Ferber of DEFcom Advisors serve as the broker in this transaction.
Five months ago, HPRN agreed to acquire Class D KROO-AM 1430 and Class C3 KLXK-FM 93.5 in Breckenridge, Tex., and Class C3 KWKQ-FM 94.7 in Graham, Tex.
Also included in the original Asset Purchase Agreement was “KSWQ-FM 94.5,” which is not presently shown as broadcasting and listed as a Graham-area property.
This FM-to-be is no longer being dealt. Instead, the seller — Palo Pinto Communications — is adding Class D KSWA-AM 1330 in Graham, Tex., to the deal.
As a result, the originally agreed-to price of $300,000 has been adjusted upward, to $308,000. Closing occurred Oct. 20.
Doug Ferber, CEO of Dallas-based DEFcom Advisors LLC, served as the exclusive broker in this transaction, representing Palo Pinto.
High Plains Radio Network has been on a buying spree in the last year. In March, HPRN added KDXE-AM 1380 in North Little Rock, Ark., and its FM translator, K288EZ at 105.5 MHz for $330,000; and acquired KAFN-AM 690 in Benton, Ark., from Saline River Media for $50,000.
In other TRANSACTIONS TODAY:
- Viva Media has finally closed on its purchase of KQFX-FM 104.3 in Borger, Tex., from Tejas Broadcasting. RBR+TVBR originally reported on this transaction in April, with KQFX attracting a sale price of $650,000. However, a Petition to Deny Viva Media’s acquisition of KQFX put the deal in question. To make it happen, Caroline Smith is selling Tejano KAMT-FM “Mega 105.1,” licensed to Channing, Tex., to Viva, led by Maria Ceniceros. The arrangement comes more than three years after a Time Brokerage Agreement between the two parties. The TBA gave Viva control of KAMT in July 2014. Bill Whitley of the Dallas office and George Reed of the Jacksonville office of Media Services Group served as the exclusive brokers in this deal, representing Tejas. Tejas Broadcasting is headed by CEO Jim Anderson, and has additional broadcast interests in Corpus Christi, Tex., and Clovis, N. Mex.
