A South Texas operation led by Eugenio Falcón has agreed to part ways with a 6kw Class A FM serving a string of small cities along U.S. Highway 83 due west of McAllen.
The buyer is a broadcast ministry, who will likely use the facility to target Spanish-language audiences on both sides of the Rio Grande.
KRGC-FM 95.1 in Rio Grande City, Tex., is being spun by Falcón-led 95.1 Investments LLC to Ministering Missions International.
A $21,100 purchase price has been agreed to by the parties.
With no earnest money deposit needed, the buyer will pay $15,100 at closing. The remainder will be payable in installments of $500 over 12 months, at no interest.
Representing the buyer is Alan Kilgore of Kilgore Broadcast Maintenance of Oconto Falls, Wisc. The seller’s representative is attorney Jeffrey L. Timmons, Esq.
A tower lease with Crown Castle is being assumed by the buyer, as are agreements with Broadcast Music, Inc.; ASCAP and SESAC.
