In June, Family Stations obtained the right to acquire a Phoenix-area FM translator as part of a deal that gave a group run by Vic Michael‘s Mountain Community Translators ownership of a South Williamsport, Pa., property.
It is now known that Family Stations is not moving forward with the option, as Michael has found a different buyer in the Valley of the Sun.
The facility is K298CK at 107.5 MHz in Phoenix, a 250-watt translator that has near-marketwide coverage. K298CK also uses Shaw Butte as its tower site.
And, it will continue to serve as the FM rebroadcast partner of KNUV-AM in Tolleson, Ariz., branded as “Onda 1190” and airing a Spanish-language Full Service format with local hosts.
That’s because Denver-based Amigo Multimedia is buying the facility, with Heberto Limas-Villers signing off on the deal.
The transaction is valued at $60,000.
A 10% deposit has been made to Michael.
The price tag is perhaps the biggest takeaway for media industry observers. Multiple parties contacted RBR+TVBR to inquire about the price, which reflects a true bargain of a purchase for Amigo.
According to Hoffman Schutz Media Capital, K298CK covers nearly 1.8 million people within its 60 dBU contour. A Phoenix market veteran who request anonymity noted that the translator could even be relocated to South Mountain, bringing it even more potential listeners from atop the main tower farm for Phoenix.
While KHYT-FM 107.5 in Tucson is a potential interference threat for portions of the SanTan Valley in the southeastern portion of the Valley of the Sun, K298CK covers enough people in the metro where a higher price could have been agreed upon.
“With a $60,000 asset purchase price, this is equivalent to a population metric of only $0.03/PP, whereas a metric closer to $1.00/PP might be expected,” said Hoffman Schutz’s David Schutz. “I do not see any glaring reason for the $60,000 purchase price.”
