Alpha Media will pay Coast Radio Group $11,150,000 for their three stations. All three stations are being considered to be part of the San Francisco market, something to keep in mind for future expansion by Alpha.
Original Report 1/20: Alpha Media has acquired Coast Radio Group’s three stations between San Francisco and Sacramento.
The three stations all air Adult Contemporary formats with identical “Your Hometown Station” positioning. 92.1 KKDV Walnut Creek serves the Diablo Valley east of Oakland. 95.3 KUIC Vacaville covers the area stretching from the Napa Valley over to the western suburbs of Sacramento. 101.7 KKIQ Livermore serves the bulk of the East Bay south of Oakland. Alpha will assume control of the stations via LMA on February 1.
Alpha Media of Portland, Oregon have entered into a definitive agreement to purchase radio stations from Coast Radio Company. Coast owns three radio stations; KUIC (FM) in Vacaville, CA., KKIQ (FM) in Livermore, CA. and KKDV (FM) in Walnut Creek, CA. Alpha Media will begin operating the Coast stations under an LMA starting February 1, 2015.
Larry Wilson, Chairman of Alpha Media will add the Coast clusters to the eighty-six stations (which include eleven under LMAs) currently in the Alpha Media portfolio. When all pending deals are completed, it will bring the total number of stations owned by Alpha Media to eighty-nine. Commenting on the acquisition, Wilson said, “I’m thrilled to be buying from exceptional operators and management who really know radio. I’m excited about the stations; they will fit nicely into our live and local game plan and concentration in California.”
John Levitt; President & CEO of Coast Radio Company said, “Alpha Media is the ideal group to continue Coast Radio’s legacy of serving our local communities. My brother Jim and I have been partners for 40 years in radio station ownership and could not be happier to have found such a great home for our stations and employees.”
This transaction will be filed with the Federal Communications Commission shortly and is subject to their approval. Media Venture Partners is the broker for Coast Radio Group.