In its second acquisition in the past week, Bustos Media has struck a $3 million deal to buy smooth jazz KFNY, Centralia, WA (102.9) giving the company its fourth station in the Seattle-Tacoma metro area. Bustos is acquiring KFNY from iHeartMedia’s Oceans Stations Trust, where the station has been parked since an asset exchange in 2017 with Entercom left iHeartMedia with one too many FMs in the Seattle market under the government’s current ownership caps.
“I have been negotiating this acquisition for almost two years. For a while it looked very bleak, but we stayed the course and finally got the deal done,” said Bustos Media President/CEO Amador Bustos. Bustos Media already owns three regional Mexican stations in market No. 12, including “La Gran D” KDDS-FM (99.3), “La Z 103.3” KZNW, and “La Zeta” KMIA (1210). “The addition of KFNY will strengthen our presence in the Seattle market,” Bustos said. “We will now have three FMs in this dynamic metropolitan area.”
KFNY will also give Bustos Media its biggest coverage area among any of its stations. “Since KFNY is licensed to Centralia, WA, and it has its transmitter site at Capital Peak, southwest of Olympia, it delivers a wonderful signal from as far south as Longview and all the way to Everett in the north,” added Homero Campos, a programming consultant to Bustos Media.
Bustos Media has not announced what format KFNY will carry, but it isn’t expected to keep the station with its current smooth jazz programming. KFNY had a 0.5 share (6+) in the March ratings, according to Nielsen.
It is the second deal announced in a matter of days for Bustos. Last week it filed a $400,000 deal to buy three Chico, CA stations from Mapleton Communications. The FMs include rock “93.9 The Hippo” KFMF, CHR “107.5 Now FM” KQPT, and classic hits KZAP (96.7). The deal also includes the Chico, CA-licensed translator K300AD at 107.9 FM, which simulcasts KQPT. Once the sale closes, Mapleton will still own country “95.7 The Wolf” KALF in the Chico market.