Related to move-in signals for Metro/Idaho
Nov 4, 2008 11:11:49 GMT -6
Post by seattlefollower on Nov 4, 2008 11:11:49 GMT -6
We all can't keep these changes straight, but as I know that this part of Wyoming is in the 'border zone' for Utah and E. Idaho, I'm sure this College Creek move is related to the signal re-adjustments in E. Idaho and the Salt Lake -Ogden - Provo market.
From Today's Taylor on Radio-Info e-mail:
From Today's Taylor on Radio-Info e-mail:
In Wyoming, a South Park move? This has nothing to do with the rude and award-winning animated series of the same name, but for the role that an actual community plays in a deal in the state of Wyoming. For starters: a Chris Devine company (College Creek Media) is selling KRFD (105.9) to Ted and Jana tucker’s Cochise Broadcasting for one of several different prices – depending on whether the Commission grants the pending construction permit to re-license it from Thayne to South Park, or denies it, or just hasn’t acted yet when the deal goes down. If the CP’s approved before the deal closes and KRFD is then a Class C2, the price is $520,000. That’s $470,000 on top of the $50,000 deposit. If the FCC “dismisses, denies or fails to grant” the move by closing time, then “buyer shall pay to seller’s lender” – we’ll get to that in a second – “the sum of $250,000, with the pre-closing escrow deposit to be applied to the alternate closing asset payment.” There’s yet a third option: if the CP has either been granted and not yet become what the lawyers call a Final Order, or is still pending, the buyer pays $220,000 as a deposit. As for the “pay to the seller’s lender” stuff – it appears that the proceeds of the sale won’t pass through the hands of College Creek, but go directly to its lender.
