Wyoming Station Changes Hands
October 31, 2008 at 5:31 AM (PT)
CHRIS DEVINE's COLLEGE CREEK MEDIA, LLC is selling AC KRFD/THAYNE, WY to TED and JANA TUCKER's COCHISE BROADCASTING LLC for payment of $520,000 to the seller's lender.
In another series of deals filed with the FCC, WILLIAM H. BROTHERS is transferring his 50% interest in TOWER INVESTMENT TRUST, INC., permittee of KSAG/PEARSALL, TX, KSAQ/CHARLOTTE, TX, and WLEL/ELLAVILLE, GA, to GARY S. HESS in exchange for HESS' interest in the permits for KTTY/NEW BOSTON, TX, KLOW/RENO, TX, KXXN/IOWA PARK, TX, and WBNK/PINE KNOLL SHORES, NC. FREQUENCY COLLABORATION COPRPORATION will end up with the CP for KDRX/ROCKSPRINGS, TX as part of the restructuring. HESS will be released from his personal guarantee and note to the BANK OF AMERICA for $1,082,453.35. BROTHERS will be assigned all principal and interest in a promissory note currently in default, plus certain cash, accounts, a website, and furniture. HESS and BROTHERS will each pay off certain debts of the company.