Travel north on U.S. 101 from the Golden Gate Bridge, and you’ll find yourself in Mendocino County, home to vineyards and such towns as Willits and the rural, coastal community of Fort Bragg. Here, a Class B FM reaching Laytonville and Ukiah and its FM translator covering Fort Bragg are being transferred to a group led by Guilford Dye.
Dye just happens to be the transferee.
Dye is President of Broadcasting Corporation of Mendocino County, and the licensee is poised to become the owner of KMKX-FM 93.5 in Willits, branded as “Max 93.5,” and its FM translator serving the Mendocino Coast, K243BS at 96.5 MHz.
At present, those facilities are licensed to Ukiah, Calif.-based Radio Millennium, which is wholly owned by Dye.
This deal welcomes new business partners, as family member Gudrun Dye will assume 45% ownership and Michael Spencer will obtain 5% interest; the remaining 50% interest in the FM and its translator will be retained by Guilford Dye.
Officially, the deal is a station sale, and it involves Gudrun Dye and Mr. Spencer agreeing to a Promissory Note valued at $100,000. After an initial payment, annual payments of $3,980 will be made until a final balloon payment three years after the initial payment is made.
Further details regarding the transaction were omitted from the LMS filing made on Friday by Dye.
