A LMA-to-purchase agreement became effective in August 2021 when control of a 1kw Class C AM and its FM translator licensed to Haverhill, Mass., was handed to the CEO of Hispanic media rep firm MNA Sales, and national Hispanic radio network Nueva Network.
Now, José Villafañe is moving forward with purchasing the facilities today known as “Exitos” from Costa-Eagle Radio Ventures.
For $1.25 million, Villafañe is formally getting the keys to WCCM-AM 1490 and FM translator W279DH at 103.7 MHz in Haverhill, to the north of Boston, for his Costa Media Boston LLC.
Key to the transaction’s terms is an original agreement allowing monthly fees under a Time Brokerage Agreement to be applied to the purchase price.
Thus, the total due to Villafañe’s group is substantially less than the purchase price struck earlier this month between the two companies.
Serving as Villafañe’s legal counsel is Frank Montero of Fletcher, Heald & Hildreth; the legal counsel for the seller is Aaron Shainis of Shainis & Peltzman.
