A broadcast licensee led by Michael V. Call, who has attributable ownership interest in Mav Radio Holdings Inc., has obtained full ownership of a Class FM with no less than four boosters designed to give this facility full-market coverage of the Salt Lake City market.
Call is the Manager of Aerostar Communications, a Utah LLC that in December 2017 closed on its $1.1 million purchase of KEGH-FM in Woodruff, Utah and associated booster stations located in Bountiful, Ogden, Provo, and Salt Lake City from the Jim Burgoyne-led SLC Divestiture Trust II.
The deal gave Aerostar control of KEGH, while also holding significant equity in KNIV-FM 104.7, a Salt Lake City-market regional Mexican station branded as “Mi Preferida,” licensed to Lyman, Wyo.
Now, KNIV is being transferred to Aerostar from Mav Media LLC, led by Manager Scot Matthews.
This is, in effect, a satisfaction of a Promissory Note dated Nov. 11, 2011 between the two entities. Aerostar purchased a $2.64 million loan from Maverik Inc. in April 2016, thus making it the party to which Mav Media owes the money.
But, Mav Media can’t pay the Promissory Note per the original terms and has been in default “for a substantial period of time.”
To avoid litigation and a foreclosure, Mav Media is signing over Mi Preferida to Aerostar.
Now, Aerostar will own and operate two FMs along the Wasatch Front.
Mav Media in 2001 acquired the station, formerly known as KZNS-FM, for $3 million, from Simmons.
