In mid-May, a new chapter for Gary Moss and M&M Broadcasters began, as the owner of three radio stations and an FM translator in Texas entered debtor-in-possession status.
Moss has now signed off on a deal that will give all but his FM to another company.
M&M has agreed to sell KBHT-AM 1590 (formerly KEKR) in Mexia, Tex.; KRZI-AM 1660 in Waco, Tex.; and K222DC in Waco, Tex., to G. Baxter Entertainment LLC.
Terms call for Baxter to obtain the intellectual property and licenses for the stations. A lease agreement will be signed allowing the buyer to use the studios of KRZI and KBHT.
Additionally, Baxter will lease the tower sites for KBHT and for K222DC.
A $200,000 purchase price has been agreed to by the parties.
There is no broker or finder associated with this transaction, which sees M&M retain ownership — for now — of KRMX-FM 104.9 in Bellmead, Tex.
