Update 10/16: Alpha Media is paying $5.8 million for the six stations.
Original Report 10/10: Alpha Media is expanding into California with the purchase of Buckley Broadcasting’s six stations in Bakersfield and Merced.
Following the deal, Buckley will be down to just one station (Sports “ESPN 630” KIDD Monterey) as it winds down its divestitures over the past few years.
Alpha Media of Portland, OR announced today they have entered into a definitive agreement to purchase radio stations from Buckley Broadcasting of California and Buckley Communications. Buckley Broadcasting and Buckley Communications own six radio stations; four stations located in Bakersfield, California which include KKBB(FM), KLLY(FM), KNZR(AM) and KNZR-FM and two radio stations in Merced, California; KHTN(FM) and KUBB(FM).
Larry Wilson, Chairman of Alpha Media will add the Buckley clusters to the seventy stations (which includes two under LMAs) currently in the Alpha Media portfolio when all pending deals are completed, bringing the total number of stations owned by Alpha Media to seventy-four. Commenting on the acquisition, Wilson said, “The Buckley clusters in California will be a great addition to the west coast footprint. Merced is a unique city with a thriving arts scene and adventurous community. As one of the fastest growing regions in the nation, Bakersfield is a rich and vibrant city full of live and local opportunities.”
Joseph Bilotta, President and CEO of Buckley Broadcasting and Communications said, “In Alpha we will pass the mantle and stewardship of our broadcast facilities in Bakersfield and Merced, CA. We have owned these wonderful stations for over 20+ years and our employees, audiences and advertising partners will benefit from the energy and considerable resources of this multi-dimensional media and entertainment company headed by Larry Wilson.”
This transaction will be filed with the Federal Communications Commission shortly and is subject to their approval.
Richard A. Foreman Associates, Inc. was the broker for Buckley Broadcasting and Buckley Communications.