Lone Star Entry For Greater NYC Hispanic Broadcaster

Erick Salgado in recent months has tied together a group of AM radio stations and FM translators across the New York Tri-State Region for a Spanish-language evangelical noncommercial network.

Now, Salgado’s Cantico Nuevo Ministry is heading to the Lone Star State.

According to an agreement struck Monday (8/12), Salgado’s Cantino Nuevo Ministry is acquiring Class B KLDS-AM 1260 and Class A KDFM-FM 103.3 in Falfurrias, Tex., between the Rio Grande Valley and Corpus Christi.

The seller is La Radio Cristiana Network Inc. and Paulina Bernal Evangelism.

The deal is valued at $325,000. Terms call for a $5,000 execution payment, a $20,000 cash payment at closing, and agreed-upon Promissory Note of $275,000. The Note is payable is 60 monthly interest-free installments of $4,583.

Further, a $25,000 land and tower payment is to be made; a $5,000 deposit on this payment has been made.

Salgado’s counsel in this transaction is attorney Allan G. Moskowitz Esq.

More on the buyer, from the RBR+TVBR Archives:

Long Island Operator Sells AM To Rival’s Partner

Adam Jacobson

What would you do if the owner of a rival radio station acquired an option on the transmitter site of your station in a bid to force a sale or, even worse, the shutdown of a sputtering AM station that’s recently gone silent? In the case of one New York station owner, a sale was the option.