In August 2023, RBR+TVBR first shared the news that it had agreed to acquire a Class A FM and an FM translator in a market where it already has a presence with its regional Mexican “La Raza” offering — Austin.
Now, more than 2 1/2 years later, paperwork is being submitted with the FCC seeking regulatory approval of a deal that has yet to be formally consummated, despite Norsan Media assuming control of the property under a Time Brokerage Agreement.
The asset purchase agreement spells out not previously-disclosed terms regarding its acquisition of KTXX-FM in Bee Cave, Tex., and FM translator partner K287FG in Austin from Genuine Austin Radio L.P., which had operated the facilities as “The Bat.”
Today, KTXX is one of three signals tied to the regional Mexican “La Raza” brand Norsan offers Austin radio listeners who prefer Spanish-language media. K287FG is Spanish Adult Contemporary “Romance 105.3,” and runs off of KTXX HD4.
A $4 million purchase price has been agreed to, with a $500,000 deposit made to GAR from Norsan.
The TBA was enacted in July 2023.
Serving as the legal counsel for the seller is Lauren Lynch Flick of Pillsbury Law. Norsan Media’s legal representative is John C. Trent of Putbrese, Hunsacker & Trent.
