In June 2020, it obtained the right to acquire a Phoenix-area FM translator as part of a deal that gave a group run by Vic Michael‘s Mountain Community Translators ownership of a South Williamsport, Pa., property. But, it instead sold it for $60,000.
Now, a deal has been reached that will see Family Stations get this mini-FM from the party it sold it to nearly two years ago.
K298CK at 107.5 MHz in Phoenix, a 250-watt translator that has near-marketwide coverage thanks to its transmitter atop Shaw Butte, is being sold by Denver-based Amigo Multimedia.
That deal was valued at $60,000.
Now, Amigo is pocketing $500,000. A 10% deposit has been made, and is being held by Clifton Gardiner. He served as Amigo’s broker.
Why such a discrepancy in the deal values? The Amigo acquisition was noted as being quite a bargain at the time. According to Hoffman Schutz Media Capital, K298CK covers nearly 1.8 million people within its 60 dBU contour.
Another factor is that K298CK could someday reach even more of the market. A Phoenix market veteran who request anonymity noted that the translator could even be relocated to South Mountain, bringing it even more potential listeners from atop the main tower farm for Phoenix.
Perhaps Family has a plan to do just that.
Amigo is led by Herberto Limas Villers, and is based in Aurora, Colo. Serving as his legal counsel is Frank Montero of Fletcher, Heald & Hildreth; Joe Chautin III of Hardy Carey Chautin & Balkin served as Family Stations’ legal representative in this deal.
At present, Family Stations’ presence in Phoenix is limited to K205CI at 88.1 MHz. At just 10 watts, it covers Central Phoenix only.
