KFWB-A (980 The Beast)/Los Angeles Sold
January 6, 2016 at 3:01 AM (PT)
KFWB ASSET TRUST, the trust set up to hold the license of Sports KFWB-A (980 THE BEAST)/LOS ANGELES as a spinoff from CBS RADIO, has sold the station, and financial filings with the SEC indicate that the station is going to CHARLIE BANTA's MERCURY CAPITAL PARTNERS/PRINCIPLE BROADCASTING for $15 million.
Staffers at the station were informed of the deal TUESDAY (1/5), and an offering to raise funds for the deal was filed as a Form D with the SEC on DECEMBER 21st. KFWB has been managed by DIANE SUTTER's SHOOTING STAR BROADCASTING since 2011. The deal has yet to be filed with the FCC; PRINCIPLE operates stations under a policy that uses brokered ethnic programming, including South Asian KLOK-A (DESI 1170 AM)/SAN JOSE, and the LOS ANGELES CLIPPERS will be seeking a new flagship for the team's play-by-play.
In filings with the FCC, MBM TEXAS VALLEY LLC has closed on the sale of Adult Hits KJAV (104.9 JACK FM)/ALAMO, TX and Spanish News-Talk KVJY-A (INFORMATIVO RG)/PHARR, TX to BI-MEDIA LICENSEE, LLC for $2.2 million.
And the JERALD EDSON ISENHART TRUST has closed on the sale of K247CH/ENTIAT, WA and K250BL/BREWSTER, WA to DIVINE MERCY BROADCASTING for $15,600 while JERRY E. ISENHART himself has closed on the sale of K221BT/OTHELLO, WA to DIVINE MERCY BROADCASTING for $70,800.