So if you own a radio station and want to transfer the license, you have to tell the FCC and get their permission first. Part of getting that permission is letting the FCC know the details of the sale – what is the price, and who are you selling the station to? Is that buyer allowed to run a station? (Is he a felon, is he a U.S. Citizen, is he banned from running a station because of prior FCC rules violations, etc…)
So when you fill out the application, you get to the part about those details:
Agreements for Sale of Station.
a. it has placed in its public inspection file(s) and submitted as an exhibit to this item copies of all agreements for the sale of the station(s); b. these documents embody the complete and final understanding between licensee/permittee and assignee; and c. these agreements comply fully with the Commission’s rules and policies. Exhibit Required
If you followed along so far, you have been told “You Must attach an exhibit which is the ENTIRE contract about the sale and place a copy of that contract in the “Public File” at the radio station for the public to come read. That’s the law.
“Exhibit 4”:
$45K KCLW AM HAMILTON TEXAS FROM LASTING VALUE BROADCASTING GROUP INC. (MEREDITH BEAL) TO FAITH IN CHRIST MISSION (TIMOTHY LEE RICKERT) $5000.00 BALANCE IN CASH AT CLOSING. FCC FILE DATE 4/4/11
This was electronically filed on April 21st, 2011. It screams “I’m a Tea Partying Texan!”
EXHIBIT 12
DESCRIPTION: ASSET PURCHASE AGREEMENT
PLEASE SEE EXHIBIT 4.PLEASE SEE THE ATTACHED ASSET PURCHASE
AGREEMENT. IT IS COMPLETE EXCEPT THAT THE
SCHEDULES ARE OMITTED. THOSE SCHEDULES
CONSIST ENTIRELY OF LISTS OF ASSETS, A
DESCRIPTION OF THE REAL PROPERTY TO BE
ASSIGNED, AND THE WORD ‘NONE.’ THESE
SCHEDULES THUS ARE IRRELEVANT TO THE
COMMISSION’S AND THE PUBLIC’S CONSIDERATION
OF THIS TRANSACTION, AND SOME OF THE
INFORMATION CONTAINED THEREIN IS
CONFIDENTIAL AND PROPRIETARY.
Or to summarize the above in Texan – “Screw you – it’s none of your damn business and I ain’t hiring no big city lawyer to do this”
The station is a 250 watt station SouthWest of Dallas / Fort Worth – the signal just barely reaches the southern end of the Metroplex during the day. It was currently playing country music (on AM).
The FCC approved the sale on June 8th without comment. It’s important to choose the battles you want to fight. A close to worthless AM station in rural Texas ain’t one of them. The current owner (“Lasting Value Broadcasting”) bought the “station” six months ago for $90,000.
The fine transmitter and antenna:
View Larger Map
The actual “station” appears to be in the ground floor of the Hamilton Guest Hotel