A Denver DMA Station Sells For Millions

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A full-power UHF facility serving the Denver market has been sold in a multi-million dollar transaction involving a debtor in possession.


No changes in programming are expected at this station, which had been the MundoFox affiliate prior to late 2014.

In other TRANSACTIONS TODAY: Beasley has closed on its $700K acquisition of an FM translator located in the heart of the Las Vegas Strip.

In a deal consummated on Jan. 9, Casa en Denver is selling KQCK-33 in Cheyenne, Wyo., to Florida-based nonprofit Christian Television Corp. for $4 million.

KQCK is assigned to the Denver DMA, and seller Casa filed for Chapter 11 bankruptcy protection in April 2015, following a shift to the buyer’s religious programming under the CTN banner. Thus, this is a bankruptcy sale, with the licensee as a debtor in possession.

An escrow deposit of $200,000 has been made to escrow agent Hardy, Carey, Chautin & Balkin L.P. The remainder is due at closing.

In the event that the FCC assigns the station a new channel post-Spectrum Auction for which Casa is not entitled to channel relocation reimbursement from the Commission, the purchase price will be slashed by $1 million “for the reasonable expense” of relocating KQCK, whether such costs have been incurred or not at the time of closing.

 

In other TRANSACTIONS TODAY for Monday, Feb. 6:

  • Beasley Media Group has closed the purchase of FM translator K268CS at 101.5 MHz in Las Vegas from Southern Nevada Educational Broadcasters, a Nevada Trust. The purchase price was $700,000. The translator has a Construction Permit for 250 watts from the top of the Stratosphere Tower on the Las Vegas Strip, giving it nearly full-market coverage. Bob Heymann of the Chicago office of Media Services Group served as the exclusive broker representing Beasley in this transaction.

 

  • For $75,000, Sunrise Broadcasting LLC is purchasing WJMT-AM 730 in Merrill, Wisc., to WRVM Inc. WJMT is a Class D facility with 1 tower broadcasting with 1kw during daylight hours and 73 watts when dark. WJMT serves the Wausau, Wisc., market. A 10% escrow deposit has been made to agent Paul Duerst. There was no broker in this transaction.