Update 1/7/10: John Lynch, owner of Broadcast Company of the Americas and Thoma Bravo LLC have paired up to acquire the Finest City Broadcasting assets under the name “Local Media of America”. The three Finest City stations will be operated together with BCA’s three stations in San Diego.
Lynch was responsible for the birth of 91X when he operated Noble Broadcasting. Full Press Release Available Here.
Original Post 1/4/10: The winds of change have gusted into San Diego to start the new year with a forced sale of three stations and two major morning show changes.
Clear Channel has let go of two high profile morning shows as they attempt to lower operating costs. Mikey Esparza was let go from the “Mikey Show” at “Rock 105.3” KIOZ at the end of 2009 after being unable to come to terms on a new contract. Esparza has reportedly come to terms with a crosstown station and will debut in a few weeks. The remainder of the show remain in place.
Today, Classic Rock “101.5 KGB” let go of the Dave, Shelly, and Chainsaw show after almost 20 years in the market. Clear Channel released the following statement on KGB’s website today: “After extensive negotiations, and offering the DSC team a very lucrative, multi-year offer, we were unfortunately not able to reach an agreement to keep the show with KGB.”
Finest City Broadcasting, which operates three Mexican stations targeted towards American listeners, defaulted on a loan payment and will have its assets put up for auction on Thursday. The stations, Rhythmic CHR “Z90.3” XHITZ, Modern Rock “91X” XETRA-FM, and Rhythmic Oldies “Magic 92.5” XHRM will continue to be run under the existing marketing arrangements that allows a U.S. based operator to manage the stations.
