Entravision to Buy 3 L.A. FMs For About $137 Million - Radio World

Entravision to Buy 3 L.A. FMs For About $137 Million

Entravision to Buy 3 L.A. FMs For About $137 Million
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Entravision Communications Corporation intends to buy three Los Angeles FMs from Big City Radio, Inc. in a cash/stock deal worth approximately $137 million. The stations include KLYY, KVYY and KSYY. Entravision would pay $100 million in cash and 3.77 million shares of Entravision's Class A Common Stock.
The deal would enable Entravision to strengthen its L.A. cluster. It already owns 3 Los Angeles FMs, KSSC, KSSD and KSSE. Entravision expects to begin managing the three Big City FM stations under an interim time brokerage agreement during the beginning of 2003. The acquisition is subject to regulatory approvals, and expected to close in the first quarter of 2003.

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