EXCLUSIVE
Zions Bank has filed suit in the Fourth District Court of Ada County against KDJQ, Combs Advertising, Robert Combs, Floyde McCall et al.
In lawsuit documents obtained by Idaho Radio News, Zions charges that KDJQ and related entities defaulted on a loan agreement with the bank - starting in late 2006 and early 2007 - “by making late payments and failing to make the required monthly payments.”
Several items have been put up for collateral by KDJQ and Combs, including several pieces of property - including at Pleasant Valley and Kuna-Mora Road, on Clover Drive in Boise and at East Shaw Mountain Road in Boise. The Shaw Mountain address is listed in the phone book as they home of Robert Combs - the Clover Drive address is home to SavvyShopper and Floyde McCall, and the Kuna-Mora property is home to the KDJQ-AM transmitter.
Zions says it has not been able to take possession of the collateral.
In April of last year, Zions and the KDJQ entities came to a forbearance agreement for payment of interest on the loan. The agreement is signed by Combs. Zions says the KDJQ entities did not comply with the repayment terms set forth in the agreement.
In the lawsuit - filed in October - Zions said that as of October 25, 2007 the KDJQ entities owed $618,939.43. The total amount of the original loan was $650,000, according to the loan agreement obtained by Idaho Radio News.
Combs refused to make an on-the-record comment to Idaho Radio News.
Zions Bank notes in the lawsuit that the FCC License of KDJQ would be lost if the station goes dark for a period of 365 days. Zions notes that the station went silent in September of 2007 - and that the loss of the license would “greatly reduce the value of the Real Property (and) Personal Property Collateral.”
As Idaho Radio News previously reported, KDJQ-AM came on the air in December playing Christmas music. The station is again off the air.
The lawsuit is still winding its way through the court process. A Fourth District court clerk today said a motion for summary judgment was recently filed by Zions.
A prior agreement sale of KDJQ to Churchill Media of Salem fell through this summer - and Combs has been trying to sell the station, even listing it on craigslist.
on Jan 23rd, 2008 at 3:49 pm
It is interesting to note from the FCC site the following pending applications …..
540 Star, ID Robert Combs
990 Star, ID Lynn Combs
1100 Boise, ID Robert Combs
1220 Kuna, ID Robert Combs
1590 Star, Id Lynn Combs
It is also to be noted from the FCC ownership information that Robert Combs and Lynn Combs are brother and sister.
on Jan 23rd, 2008 at 6:59 pm
I saw a notice in the paper the other day in which Robert Combs had filed an application with the FCC for permission to utilize the 540 frequency. Sounds like the Combs’ family is to local radio what Gary Rogers (the infamous Boise hole) is to downtown redevelopment. The Combs’ have a loan default against them ands a bunch of meaningless FCC applications. Rogers still has hole in the ground, with boards around the site to hide it. Sounds like progress to me.
on Jan 23rd, 2008 at 9:18 pm
SAD, very sad. Another wasted resource that could have been used effectively had it been in the right hands. I only hope they are all able to come to some sort of equitable settlement when the dust clears.
on Jan 23rd, 2008 at 10:33 pm
Where does “Daddy Dave” Combs fit in to this whole mess?
Editor’s note: The two gentleman are not related - as is noted below.
on Jan 24th, 2008 at 6:34 am
As far as I know, Dave and Robert are not connected.
on Jan 24th, 2008 at 2:04 pm
I talked to Dave Comes back in 2005. He told me there was no relation. He did tell me though both him and Robert have the same consultant.
on Jan 24th, 2008 at 2:48 pm
Looks like they could use a new one of those.
on Jan 24th, 2008 at 4:48 pm
Dave Combes and Robert Combs are not related. Note the different spelling of the surname.
on Jan 24th, 2008 at 9:28 pm
Mea Culpa. My memories of Dave Combes led me to a most unpleasant conclusion about Robert Combs.
on Jan 25th, 2008 at 9:47 pm
Anyone remember the Zion’s Bank radio ad that talked about KDJQ? One of the series of “small businesses” financed by Zion’s. Only aired around here a day or so.
on Nov 11th, 2008 at 9:00 pm
Zion’s Bank has taken possession of the assets of Robert Combs.