Los Angeles Dodgers Take 49% Stake In 570 KLAC
The Los Angeles Dodgers and iHeartMedia announced in November 2014 that the franchise would take an equity stake in Sports 570 KLAC Los Angeles as part of their new rights agreement. That deal has finally been filed with the FCC.
KLAC will be spun into Los Angeles Broadcasting Partners, a new holding company held by the two groups. iHeart will retain 51% of the ownership of the station as well as control of its day-to-day operations. The Dodgers, through its LARadioCo will hold 49% of the station. As part of the deal, iHeart cannot launch another Sports station in the Los Angeles market for the next fifteen years without the written consent of the Dodgers.