In May 2021, Pablo de Jesús Colón Jr., co-founder and CEO of “Radio Cumbre,” died at the age of 86.
With the passing of Colón, inducted into the Connecticut Broadcaster’s Association Hall of Fame in 2015, the AM and FM translator that’s home to the Spanish-language operation based in Bridgeport, Conn., in March 2022 was placed into his estate.
Now, a buyer has emerged.
WCUM-AM 1450 in Bridgeport, and FM translator W277DP at 103.3 MHz, pending FCC approval, are being acquired by David Webster and his Trignition Media.
A $348,000 purchase price has been agreed upon. A $5,000 initial deposit is being held by George Tzepos, trustee.
At closing, $250,000 in cash is due and will be distributed to Cumbre’s secured creditors; $10,000 in cash will be paid prorated to the unsecured creditors of Cumbre. A $40,000 payment will be made to the estate’s executrix, Migdalia Colon.
Colon will also take a $24,000 Consultancy Agreement, to be paid at the rate of $1,000 per month for 24 months commencing 30 days after closing.
Lastly, a $24,000 noncompete payment will be paid at $1,000 per month for two years to Pablo Colon III, starting at 30 days after closing.
Serving as the buyer’s broker in this transaction is Kozacko Media Services.
And, if history is any indication of what’s in store, WCUM will retain its Hispanic-targeted programming. That’s because Webster in early 2018 acquired Class C WWCO-AM 1240 in Waterbury, Conn. and FM translator W292FI at 106.3 MHz in Waterbury for $260,000. It was to begin rebroadcasting WRYM-AM 840 “Viva! Radio” in New Britain, Conn., a Tropical station serving Spanish-language audiences in communities between Hartford and Middletown, Conn. WRYM uses W297BT at 107.3 in Hartford to benefit from “AM revitalization.”
