Bustos Buys Oregon AM
October 29, 2009 at 4:22 AM (PT)
BUSTOS MEDIA HOLDINGS, LLC is buying the construction permit for KTRP-A/MOUNT ANGEL, OR from JNE INVESTMENTS, INC. for $500,000, exercising a 2007 option to buy the station.
In other deals filed with the FCC, YOUNGERS COLORADO BROADCASTING LLC is swapping Contemporary Christian KPCR/FOWLER, CO to ROGER HOPPE's CONUNDRUM COMMUNICATIONS INVESTMENTS, INC. in exchange for HOPPE sending his AC KLIM-A/LIMON, CO and its construction permit to change facilities and community of license to BLACK FOREST, CO to VIC MICHAEL's KONA COAST RADIO II, LLC; MICHAEL's MAUNA TOWERS, LLC will then assign towers, buildings, and real estate near DIX and KIMBALL, NE to CONUNDRUM. As additional consideration, CONUNDRUM will play YOUNGERS and KONA II $10 each, and KONA II will pay $5,000 to HOPPE and will release some debt owed by YOUNGERS.
PRAISE BROADCASTING is selling Religion KCGN (PRAISE FM)/ORTONVILLE, MN to CHRISTIAN HERITAGE BROADCASTING, INC. for $250,000.
And BRUCE T. FOSTER is transferring his 74% interest in CENTRAL ILLINOIS BROADCASTING CO., licensee of WJEQ (CLASSIC 103)/MACOMB, IL to his wife NANCY L. FOSTER, who previously owned 26% of the company, for forgiveness of $1,000 debt. The transfer is being made because of BRUCE FOSTER's "deteriorating medical condition."