On May 25, 2022, RBR+TVBR shared the story of Mario Rangel, a key employee at COVID-19-impacted South Texas Radio and the chief of the Uvalde Volunteer Fire Department in Uvalde, Tex. Rangel had just departed the elementary school his daughter attends when a gunman entered the school and opened fire. His daughter was safe; 19 Robb Elementary students perished.
Roughly one month later, another crisis arrived for Rangel: South Texas Radio ceased operations. In August 2022, Ciudad Acuña, Mexico-based Francisco Javier Navarro struck a deal to acquire the company’s three Uvalde stations, and an AM/FM combo in Eagle Pass, where South Texas Radio is based.
Now, Navarro is selling the stations.
KBNU-FM “Hits 93.9”, KVOU-FM “Coyote Country 104.9” and KUVA-FM “Tejano y Más” in Uvalde, Tex., and Eagle Pass-based KEPS-AM & KINL-FM, are being acquired by Cynthia F. Rankin, doing business as Universal Media Connections Agency.
KINL and KVOU are being spun from Roca Radio LLC, while the other properties are licensed directly to South Texas Radio.
Navarro assumed control of both Roca Radio and South Texas Radio from Moises Abraham Gonzales; they were former business partners.
Now, Navarro stands to earn $1.4 million from the stations’ sale to Rankin.
A $200,000 escrow deposit has been made to Martin & Drought P.C., with the remaining funds due honored by a Promissory Note. Terms call for a $600,000 payment on May 1, 2024, and a second payment of equal value on May 1, 2025.
In addition to the sale price, Rankin is agreeing to pay South Texas Radio monthly rent of $5,000, effective August 1.
There is no broker or finder associated with this transaction.
