PORTLAND, ORE. — On Tuesday (10/24), RBR+TVBR reported that local media company Pamplin Media Group “is ready to file a Form 314 with the FCC indicating that it has sold its two AMs in the Rose City.”
It turns out that the Asset Purchase Agreement (APA) was completed on Oct. 13, and was uploaded to the online public inspection file for one of the two AM stations being sold on Oct. 19. While the APA hasn’t yet appeared in the FCC’s CDBS, we now have full details of who the buyer is, and what they are paying for KPAM-AM 860 and “Sunny 1550.”
As stated in the APA, Class B KPAM-AM 860, licensed to the eastern suburb of Troutdale, Ore., and Class B KKOV-AM “Sunny 1550,” licensed to nearby Vancouver, Wash., are being sold by Pamplin to Intelli LLC — a California limited liability company based in San Jose known for its multicultural radio stations in the San Francisco Bay Area, Dallas-Ft. Worth, and in Atlanta.
Intelli is paying $1.2 million for KPAM and KKOV, and a $60,000 escrow payment has been made to Media Services Group, which is serving as escrow agent.
Tom McKinley of the New York Metro office of Media Services Group was the exclusive broker in this transaction.
While the APA was crafted Oct. 13, both parties had until Oct. 16 to review, negotiate, and accept the terms of the agreement.
Intelli LLC is the parent company of Vien Thao Media — a Vietnamese radio operation that is headquarted at Class D KAZA-AM 1290, licensed to Gilroy, Calif. The station covers all of the South Bay, including San Jose, and the nearby Monterey-Salinas market. Vien Thao is led by CEO Tron Dinh Do.
The buyer was represented by The Law Office of Dan J. Alpert.
