Continuing to beef up its Los Angeles cluster, Meruelo Media strikes a deal to buy regional Mexican “93.9 Exitos” KXOS Los Angeles from 93.9 Holdings and Grupo Radio Centro Los Angeles. Terms of the deal weren’t immediately disclosed. The purchase gives Meruelo a third full-signal FM in radio’s richest revenue market, joining rhythmic CHR “Power 106” KPWR, which it acquired in 2017 from Emmis Communications, and rocker KLOS (95.5), which it is buying from Cumulus Media for $43 million. Meruelo took control of KLOS under a local marketing agreement April 16.
The company, which says it is the largest minority-owned media group in California and operates media properties solely in Southern California, also owns the classic hip-hop simulcast of KDAY Los Angeles and KDEY Riverside-San Bernardino, along with KWHY-TV in L.A. and sister KBEH-TV on Oxnard, CA. The purchase makes KXOS the seventh broadcast station in Meruelo’s Southern California radio and TV portfolio.
“The acquisition of 93.9 FM KXOS is a key piece in our media division expansion strategy,” Meruelo Media chairman and CEO Alex Meruelo said in the announcement. “Our group has done an amazing job curating some of the most recognizable local media brands into one extremely powerful portfolio.”
President and COO Otto Padron said “adding these spectacular call-letters to our full-market FM radio station SoCal cluster authenticates our hyper-local media strategy to super-serve clients, partners and our community. We are also looking forward to a productive multimedia content relationship with our friends of Grupo Radio Centro Mexico.”
Working with Mexico-based Grupo Radio Centro, Padron said Meruelo Media will launch a Spanish language all-news format on a KXOS HD Radio side channel. In addition, they will work with the Mexican broadcaster to develop other multimedia content for Meruelo’s KWHY-TV.
The company says it expects the transaction to close in the third quarter, following regulatory approvals.