David Gow has signed off on an Asset Purchase Agreement that will give his FM translator business ownership of two facilities serving one of Texas’ largest markets with ESPN Radio programming simulcast from a 100kw Class C FM serving the Beaumont-Port Arthur market.
One of the FM translators he seeks to acquire, pending FCC approval, is K223CW at 92.5 MHz in Houston, a miniscule 28-watt facility with a construction permit allowing it to serve an area stretching from downtown Houston to NRG Stadium. Now, SDK Franco LLC is agreeing to sell it along with K223DH, a co-channel FM translator with 50 watts that reaches communities such as Fresno, Tex., and nearby Sugar Land.
This secures their use as simulcast partners of KFNC-FM 97.5 in Mont Belvieu, Tex., the originating station for “ESPN Houston.”
Karen Guevara, who leads SDK Franco and purchased K223CW from Centro Cristiana in early 2020, stands to pocket $1.1 million from the deal. A $300,000 retainer paid allowing Gow to operate the FM translators is being applied to the total price.
The remaining $800,000 is to be honored by a promissory note, with payments of $30,000 made across 10 months followed by a wire transfer of the remaining $500,000.
Serving as the legal counsel for Gow Translators LLC is Barry Friedman of Thompson Hine LLP.
