At present, it has a puny 100-watt signal covering the town of Mona, Utah. However, it holds a Construction Permit allowing it to upgrade to a Class C2 facility, expanding its signal contour north to Provo and south to Delta and Gunnison.
That’s likely what led a former Provo resident who now resides in Baltimore to buy the FM.
In a transaction that sees George Kimble of Kozacko Media Services serve as the broker, KPUT-FM 92.9 in Mona is being sold by New York-based Alex Berger’s Alex Media.
The buyer is Northpoint Broadcasting LLC, led by Sherman Hill.
Hill is paying $150,000 for the facility, and used the services of Cary Tepper as legal counsel.
A $5,000 deposit is being held in escrow with Kozacko Media Services, made with the signing of a Letter of Intent. A second deposit of $10,000 was made. Cash paid at closing will cover the remaining balance.
Kimble’s broker fee is $10,000.
