El Dorado Continues Sell-Off With KXFM Divestment
El Dorado Broadcasters has been divesting its properties in the Santa Maria and San Luis Obispo CA markets over the past few months.
The most recent deal will see Rock 99.1 KXFM Santa Maria go to John Hearne’s Point Broadcasting for $1.175 million. Point does not own any other stations in the Lompoc/Santa Maria market, but does have 2 AMs and 4 FMs in the adjacent Santa Barbara market operating as Rincon Broadcasting. KXFM applied last November to relocate to Montecito where it would moves its signal coverage to the Santa Barbara and adjacent Oxnard/Ventura markets. The application has yet to be approved by the FCC.
Since the start of 2016, El Dorado has sold off four other stations in the San Luis Obispo and Santa Maria markets. “Sunny Country 102.5” KSNI-FM and News/Talk 1240 KSMX (now KSMA) Santa Maria went to American General Media for $1.5 million. Regional Mexican 106.7 KSMY Lompoc was sold to Lazer Broadcasting for $400,000. Last week El Dorado and American General Media once again hooked up with News/Talk 920 KVEC San Luis Obispo being sold for $450,000.
Following this deal, El Dorado Broadcasters will own three FMs in San Luis Obispo, 1 AM 3FMs and an HD fed translator in Victorville CA, and 1 AM and 2 FMs in Yuma AZ.