CNZ Communications no sooner closed on a deal to acquire nine low power television outlets from a Viacom subsidiary under the Cabellero brand then it turned around and resold three of them. According to brokerage Kalil & Company, the nine-station deal closed 7/29/13, while two new deals for three stations landed on the FCC doorstep 8/1/13.
CNZ’s principals include Terry Crosby and Randy Nonberg. On the occasion of the closing, Crosby stated, “We continue to believe in the inherent value of television spectrum both as it is currently being used by over-the-air broadcasters and as it may be redeployed in the future. Our new station group includes four of the top 12 Hispanic markets.”
The first deal was valued at $3M, and included the following stations:
*KGBS-CA Austin TX
*KGMM-CA San Antonio TX
*KMMA-CD San Luis Obispo CA
*KMMC-LD San Francisco CA
*KMMD-CD Salinas CA
*KMMW-LD Stockton CA
*KMUM-CA Sacramento CA
*KQMM-CA Santa Maria CA
*KZMM-CD Fresno CA
Nonberg said, “We’re still formulating our plans, but television is facing an era of change and we want to continue to participate as that transformation creates opportunities.”
CNZ clearing realized a pair of opportunities almost instantaneously, striking two deals that will bring in a total of $3.835M, leaving them with six of the nine stations they just acquired plus an additional $835K in their wallets.
In the richer of the two deals, KMMC-LD San Francisco will be going to Charles Naumer’s New York Spectrum Holding Company LLC for $2.335M cash
In the other, KMUM-CA Sacramento and KMMW-LD Stockton CA, both part of the Sacramento-Stockton-Modesto CA DMA, are going to Philip Wilkinson’s Serestar Communications Corporation for $1.5M cash, with $1.225M allocated to the Sacramento station and $275K to the Stockton station. Wilkinson is a director at multimedia Hispanic company Entravision.
Kalil is holding the escrow money in both of the new deals and provided brokerage services.
