Andres Bichara is a name that San Diego sports fanatics may be somewhat familiar with, although he’s neither a team owner or a pro athlete. Rather, Bichara is the owner of Interamericana de Radio S.A. de CV, licensee of XEPRS-AM 1090 in San Diego, which pulled the plug on “The Mighty 1090” in April 2019 over unpaid LMA fees from the group operating the station: Broadcast Company of the Americas.
With no notice, Bichara pulled the plug on that English-language sports Talker by simulcasting a Mexican Adult Hits FM serving the McAllen, Tex.
Now, Bichara is back in the news, as he’s agreed to sell that Rio Grande Valley FM to a non-secular broadcaster.
KJAV-FM 104.9 in Alamo, Tex., a Class A facility airing a Nucleo Radio Monterrey brand serving the communities Weslaco and McAllen that cannot reach Brownsville, is being sold by Bichara’s Bi-Media Licensee LLC to Christian Ministries of the Valley Inc.
A $1.45 million purchase price has been agreed upon; a $10,000 initial deposit has been made by the religious non-profit corporation. A $200,000 promissory note with a 4.5% interest rate has been agreed upon by the parties to help fund the transaction. A 5% late payment penalty clause is included in the terms of the note.
There is no broker or finder associated with this transaction.
Bi-Media is using the legal services of Stephen Lovelady at Shainis & Peltzman; the buyer is represented by Scott Woodworth of Edinger Associates.
With KJAV, Christian Ministries of the Valley gains its 15th radio station in Texas. It also owns a station in Minnesota, and in Reno, Nev.
