Emmis Communications has announced the sale of a large-market radio station. KPWR(FM) in Los Angeles, a station it has owned for more than 30 years, is going to the Meruelo Group, a miniature conglomerate based in Downey, Calif.
The price is $82.75 million. Meruelo Group founder, Chairman and CEO Alex Meruelo said, “The acquisition of Power 106 is a game changer for our group and our media division. … We are committed to bringing the resources, talent and passion necessary to make this legendary brand the #1 radio station in Los Angeles.”
In other recent acquisitions that have crossed the Radio World sales desk, KBVA(FM) in Bella Vista, Ark., was sold by Hendren to Communications to Hog Radio (gotta love that name) for $1.5 million. Jason James of Patrick Communications was the broker.
In northern Illinois three stations were packaged by Withers Broadcasting Co. of Rock River for purchase by Virdon Broadcasting Corp. They are WZZT(FM), Morrison; WSDR(AM), Sterling and WSSQ(FM), Sterling. Price was $400,000. Patrick Communications was the seller’s broker.
In Texas Bill Whitley and George Reed of Media Services Group participated in a pair of transactions in the Texas Panhandle. In Borger, Viva Media bought KQFX(FM) from Tejas Broadcasting Limited for $650,000. Dave Garland Brokerage represented the buyer.
In Amarillo, Tejas Broadcasting sold KBZD(FM) to Grace Community Church for $400,000. MSG represented the seller.
As always, all sales are pending FCC approval.