SALES – STATIONS
Los Angeles – Cumulus Media has struck a $43 million deal to sell rock KLOS (95.5) to Meruelo Media. The purchase gives Meruelo another signal in L.A. where it already owns rhythmic CHR “Power 106” KPWR and classic hip-hop simulcast of KDAY (93.5)—as well as the KDAY simulcast partner KDEY-FM (93.5) in the adjacent Riverside-San Bernardino market. Meruelo will operate KLOS under a local marketing agreement until closing. No format change is planned for the legendary rock station. Once the sale is finalized, Cumulus will still own talk KABC (790) in the Los Angeles market.
Connecticut & Pennsylvania – Cumulus Media has agreed to swap AC WEBE (107.9) and news/talk WICC (600) in the Bridgeport, CT market to Connoisseur Media. The deal also includes the Bridgeport, CT-licensed translator W297CP at 107.3 FM which simulcasts WICC. Connoisseur already owns AC “Star 99.9” WEZN-FM and classic rock “95.9 The Fox” WFOX in the Bridgeport market. In exchange, Cumulus will acquire classic rock “99.9 The Hawk” WODE-FM, alternative “Spin Radio 107.1” WWYY, and the “Fox Sports Radio” simulcast of WEEX (1230) and WTKZ (1320) in and around Allentown-Bethlehem, PA market from Connoisseur. Also included in the deal is the Allentown, PA-licensed translator W234AX at 94.7 FM that simulcasts WODE-FM. Cumulus already owns AC WLEV (100.7) and “Cat Country 96.1” WCTO in the Allentown-Bethlehem market. Both companies will begin programming their new stations under local marketing agreements on May 1. Broker: MVP Capital
Texas – Leading Media Group files a $6 million deal to buy four stations in two south Texas stations from MBM Radio. In the McAllen-Brownsville, TX market Leading Media Group files to buy “Super Tejano 102.1” KBUC and “710 Talk Radio” KURV. And in the Laredo, TX market it files to buy regional Mexican “La Ley 100.5” KBDR and rhythmic CHR “Hot 106.1” KNEX from MBM Radio. Leading Media Group is the U.S. subsidiary of the Monterrey, Mexico-based Grupo Multimedios Estrellas de Oro which owns radio, TV, newspapers, magazines, and billboard businesses in Mexico, Central America, and Spain. While Leading Media Group is a Delaware corporation, it’s controlled by two Mexican nationals and will require a waiver to the FCC’s foreign ownership limits. Once the deal closes, MBM radio will still own the currently-silent KZSP (95.3) and KESO (92.7) in the McAllen-Brownsville market and “Classic Hits 1490” KLNT in the Laredo market.
Minnesota – Linder Radio Group sells a 24% stake in the company to Lynn Ketelsen for $1,668,701. David Linder owns 19 stations in Minnesota. In a related deal, Linder sells an additional 5% stake in the company to Matt Ketelsen for $364,467. The deal includes an option allowing Matt Ketelsen to buy an additional 20% interest in Linder Radio Group for an additional $1,561,608. The first window to exercise the option will open in March 2020. Matt Ketelsen current owns classic rock KHRS (105.9) in the Mankato, MN area. Lynn Ketelsen is farm director for the Linder Farm Network. And Matt Ketelsen is a sales manager for the ag network as well as acting general manager of Linder’s stations in Mankato, MN.
Pennsylvania – Lilly Broadcasting files a $900,000 deal to buy classic hits “92 Gold” WRRN, country “Kinzua Country 104.3” WKNB, and talk WNAE (1310) in the Warren, PA area from Iorio Broadcasting. The deal also includes the Warren, PA-licensed translator W244DY at 96.7 FM. Lilly Broadcasting already owns WSEE-TV, the CBS affiliate in the nearby Erie, PA market and it operates WICU-TV under a shared services agreement with SJL Communications. Kevin Lilly also owns WENY-TV in the nearby Elmira, NY market. Broker: CMS Station Brokerage
SALES – TRANSLATORS
Colorado & New Mexico – Marshall Martin files a $5,000 deal to buy the Raton, NM-licensed translator K269GQ at 101.7 FM and the Alamosa, CO-licensed translator K274CU at 102.7 FM from Mainstreet Broadcasting. Both signals relay contemporary Christian “Light Praise Radio” based at KTLF, Colorado Springs, CO (90.5).
Oklahoma – Mollman Media, owner of classic hits “Kool 105.5” KWCO-FM in the Oklahoma City suburbs, is significantly expanding the size of its holdings. Matthew Mollman has closed a $3 million deal to buy 10 signals from Perry Broadcasting Company in the region. The stations include “Kickin` Country 97.1” KKEN, Duncan, OK; sports “The Ticket 1380” KKRX, Lawton, OK; urban AC KXCA, Lawton, OK (1050); urban “97.9 Jamz” KJMZ, Cache, OK: classic rock “Kiss 105.3” KDDQ, Comanche, OK; classic country “Superstar Country 98.5” KACO, Apache, OK; and “News Talk 1350” KPNS, Duncan, OK. The deal also includes three FM translators: the Duncan, OK-licensed K291CT at 106.1 FM; the Lawton, OK-licensed K244FW at 96.7 FM; and the Lawton, OK-licensed K229DG at 93.7 FM. Perry Broadcasting still owns two stations in the Tulsa, OK market and five stations in the Augusta, GA market.
Corpus Christi, TX – Steven and Nisa Zap’s Starlight Broadcasting closes a $600,000 deal to buy hot AC “The Beach 96.5” KLTG and rhythmic CHR “Wild 105.5” KLHB from James Anderson’s Tejas Broadcasting. Tejas earlier closed on the sale of its third FM in the market. Educational Media Foundation paid $432,000 for KMJR (98.3). With the closing on the sale of the two other FMs, Tejas doesn’t own any other radio properties. Brokers: Bill Whitley and George Reed, Media Services Group
Nevada – JDK Broadcasting closes a deal to donate the currently-silent KWNA, Winnemucca, NV (1400) to Isaac Diaz’s Fundacion Manitas Llenas. The donation also includes the Winnemucca, NV-licensed translator K221AG at 92.1 FM. KWNA has been off the air since May 2018 citing financial difficulties. JDK Broadcasting still owns “Buckaroo Country 92.7” KWNA-FM in Winnemucca.