Earlier this week, RBR+TVBR first shared the news that Amador Bustos had struck a deal to acquire a big FM radio station serving a wide swath of the Seattle-Tacoma DMA’s southern tip, including the Washington state capital of Olympia. Now, his Bustos Media Holdings is selling an AM further south in the Rose City.
KQRR-AM 1130 in Mount Angel, Ore., a Class B facility with 25kw daytime watts from 3 towers and 490 watts at night to protect Class A CKWX “CityNews Vancouver” in British Columbia, is being sold to Iglesia Pentecostal Vispera del Fin, a Hispanic non-secular broadcast ministry.
The non-profit is agreeing to a $1.01 million deal for the facility, which has a limited nighttime signal covering areas from Woodburn to Salem, Oregon’s state capital but a booming daytime signal directed north toward Portland and neighboring Clark County, Wash.
A $50,000 cash payment will be made at closing, with La Iglesia entering into a Promissory Note arrangement for payments spread out over 60 months totaling $450,000, plus 2% annual interest.
The remaining $510,000 will be considered a tax-deductible donation on the part of Bustos, to the church.
Serving as Bustos’ legal counsel in this transaction is Dennis J. Kelly, Esq.
The legal counsel for La Iglesia is Pillsbury Law.
