A deal for seven low-power stations in California and two in Texas is the only TV station transaction submitted to the FCC for its approval during the week ending June 25, according to BIA Kelsey.
Viacom Inc. has agreed to sell all of the stock of its wholly owned subsidiary Caballero Acquisition Inc. to Caballero Spanish Media for $3M consisting of an escrow deposit of $150,000, $850,000 cash at closing and a promissory note in the amount of $2 million. KVMM-CD Santa Barbara, Calif., is not included in this sale. As part of the deal Caballero Spanish Media will get an LMA put option agreement for KVMM-CD.
PRICE: $3 million
BUYER: Caballero Spanish Media (Eduardo Caballero, president)
SELLER: Viacom Inc (Sumner Redstone, executive chairman)
KZMM-CD Fresno, KMUM-CA Sacramento, KMMD-CD Salinas, KMMC-LD San Francisco, KMMA-CD San Luis Obispo, KQMM-CD Santa Maria, KMMW-LD Stockton
KGBS-CA Austin, KGMM-CA San Antonio