Luna Stations Go To Trustee
February 3, 2010 at 4:28 AM (PT)
ABEL DE LUNA's LUNA COMMUNICATIONS stations are being transferred to a trust by his lenders headed by WELLS FARGO FOOTHILL, INC., with SCOTT SAVAGE of SAVAGE MEDIA GROUP as trustee. DE LUNA has a deadline of MAY 31st (extended by 90 days for each $2 million repaid) to repay his debt, with other provisions including returning three silent stations to the air, payment of taxes, and lack of FCC approval before MAY 31st.
The stations being put into the trust are Regional Mexican KRRS-A (LA MAQUINA MUSICAL 1460)/SANTA ROSA, CA and Regional Mexican KTOB-A (LA VAQUERA 1490 AM)/PETALUMA, CA (held by MOON BROADCASTING LICENSEE LLC); Regional Mexican KMQA (MAQUINA MUSICAL)/EAST PORTERVILLE, CA and Regional Mexican KMEN/MENDOTA, CA (held by MBP LICENSEE LLC); Regional Mexican KAEH (LA MAQUINA MUSICAL)/BEAUMONT, CA and Regional Mexican KIQQ-A (LA MAQUINA MUSICAL)/BARSTOW, CA-KIQQ-F/NEWBERRY SPRINGS, CA (held by MBR LICENSEE LLC); Regional Mexican KMNA (LA X)/MABTON, WA and Regional Mexican KZXR-A (ENVISORA 1310) and Spanish KLES/PROSSER, WA (held by MBPROSSER LICENSEE LLC); and Regional Mexican KAAT (LA MAQUINA 103.1) and AC KTNS-A (SOFT HITS 1060)/OAKHURST, CA (held by CALIFORNIA SIERRA CORPORATION).