Robert Zellmer’s New Directions Media has sold an Arizona AM.
KVSL is licensed to Show Low, Arizona, which is in Navajo Country on the Mogollon Rim in east central Arizona, near the New Mexico border.
The buyer is Casa Pinon. Ernie and Wanda Barbee each hold 50% equity in the Concho, Arizona company.
The price is $100,000. The parties describe the transaction to the FCC as an installment purchase with an interim LMA until the deal closes.
The buyer has paid $5,000 and will pay another $10,000 on July 1 for a total $15,000 deposit.
At closing, the buyer will deliver another $20,000 cash and a $65,000 promissory note.
The tower is excluded from the transaction. The site lease is on a month-to-month basis and the parties agree any long-term replacement lease will be the buyer’s responsibility.
The studio building is also excluded; Zellmer intends to sell the property.
KVSL is a non-DA Class D AM, transmitting 5,000 watts day/87 watts night from a single tower; it operates on 1470 kHz.
