CBS to Sell Two Texas Properties to Border Media for $45 Million

CBS to Sell Two Texas Properties to Border Media for $45 Million
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CBS has a deal to sell its radio stations in San Antonio, Texas, KTSA(AM) and KJXK(FM), to Hispanic radio group Border Media Partners LLC for $45 million in cash.
Earlier this week, Entercom said it would buy 15 CBS Radio stations in four markets.
In May, we reported CBS wanted to spin off stations in 10 small markets. When all announced deals close, including the Texas sale, CBS will have sold a total of 17 radio stations in five markets.
Texas-based BMP claims to be the largest privately held Hispanic radio group in the U.S. by station count. With the acquisition of the CBS properties, BMP will strengthen its San Antonio station cluster and own 37 stations in Texas.
The transaction is subject to regulatory and other approvals.

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