HBC Snags ‘Revered’ Stations in Puerto Rico

The sale of four stations in Puerto Rico to HBC is expected to close by mid-year.
$32 million is the price tag for Hispanic Broadcasting Corp. to buy the stock of El Mundo Broadcasting Corp. The seller is Fundación Angel Ramos Inc. The estimated revenue of all radio stations in that market was $85 million in 2001, according to BIAfn data.
El Mundo owns WKAQ(AM-FM) and WUKQ(AM-FM). The stations are programmed as one FM format, called KQ-105, and one AM format, Radio Reloj. The head of HBC referred to the stations as “revered institutions.”
McHenry Tichenor Jr., head of HBC, said, “We are very aware of the importance of these stations in the hearts of Puerto Ricans and we pledge to continue (their) excellence in programming and community service … We are pleased to welcome Huberto Biaggi and his talented staff to the HBC family.”