When it is 9am in Washington, D.C., it is Midnight the following day in Saipan, one of 10 islands that comprise the Commonwealth of the Northern Mariana Islands — a part of the United States just north of Guam in the Pacific Ocean.
In April, Saipan made the news as a 50/50 partnership named DB Media acquired a Class C3 FM serving Saipan. Now, DB Media is adding a second FM — and a TV station.
The company, which agreed to purchase KZMI-FM 103.9 in Garapan-Saipan from Cecilia Lifoifoi and British Virgin Islands-based Hoth Holdings Ltd. in a stock sale arrangement valued at $195,000, is now purchasing KPXP-FM 97.9 in Garapan-Saipan and licensed and silent KPPI-LD 7.
The seller of KPXP is Sorenson Pacific Broadcasting, while sibling licensee Sorenson Television Systems is selling KPPI.
The total value of the transaction is $200,000. A $30,000 escrow deposit has been made.
Behind DB Media are Robert Webb and David Hood.
While KPXP is at 97.9 MHz, it is branded as “Power 99.” Why? The former KPXP, on 99.5 MHz, is now KZGU-FM and based on Guam.
