A pair of FMs are changing hands along the Gulf of Mexico. The deal’s compensation package is heavily back-loaded through the use of seller paper.
The stations are KKHA-FM and KBYC-FM, both licensed to Markham TX.
The seller of KKHA is Edwards Broadcasting Company, and the seller of KBYC is Witko Broadcasting Company. Both are headed by Richard E. Witkovski.
The buyer is Tomlinson-Leis Communications LP, headed by President Edward B. Tomlinson II.
The stations are being sold separately. The total price is $384,260, $300,000 of which is accounted for by seller paper.
The price for KKHA is $257,860, with a $57,860 down payment and a $200,000 promissory note comprised of 60 $3,728.60 monthly payments.
The price for KBYC is $126,400, with a $24,600 down payment and a $100,000 promissory note comprised of 60 $1,864.30 monthly payments.
KKHA-FM is a Class C3 on 92.5 MHz with 18 kW @ 328’.
KBYC-FM is a Class C3 on 104.5 MHz with 19.5 kW @ 328’.The stations serve unrated territory along the Gulf of Mexico to the southwest of Houston.
There is an equipment angle to this deal. The seller has made repairs to the transmitter of KKHA-FM and acknowledges that there are still some more fixes required. It has the option of making the repairs or replacing the transmitter. If the former, it must warrant the transmitter for two years of normal use.
