Most station transactions involve a buyer and a seller, but the sale of a Tennessee AM is a little different. One company is holding up the buyer’s end of the deal, but it’s taking two to sell it.
The station is WKGN-AM Knoxville TN.
The seller is Ricardo Espinosa, who is selling the station’s authorization; and Norsan Consulting and Management LLC, headed by CEO Norberto Sanchez, which is selling the real estate, tower, transmitter building and studio trailer.
The buyer is Hodges Media LLC. CEO Nathan A Hodges holds 95% of the company, with the remaining 5% in the hands of CFO/COO Keith Hales.
The price is $225,000 cash. There is a slight adjustment, however. The sellers are reimbursing Hodges Media in the amount of $3,500 for repairs to certain tangible assets of the station.
WKGN-AM is a Class C on 1340 kHz with 1 kW-U, ND. The station caters to the local Hispanic population as la Raza 1340 with a signal perfectly centered over the city.
