Just months after acquiring 980 KFWB Los Angeles and launching South Asian “Desi 980“, Universal Media Access is selling the station to Lotus Communications for $11.2 million.
Universal Media Access paid $8 million to purchase then Sports “980 The Beast” from CBS’ KFWB License Trust in January. The deal gives Lotus its second AM in Los Angeles as the company owns Spanish Sports “ESPN Deportes 1330” KWKW.
This is to announce that a contract has been signed and an application is going to be filed with the FCC for the transfer of radio station KFWB-AM, Los Angeles, California, from Universal Media Access KFWB-AM, LLC to Lotus Communications Corporation for $11.2 million.
The Seller, Universal Media Access KFWB-AM, LLC, is Delaware Limited Liability Company.
The Buyer, Lotus Communications Corporation, is a California-based company headed by Howard Kalmenson, President & CEO, and Jim Kalmenson, First Senior Vice President. Lotus also owns radio stations in Los Angeles, Las Vegas, Tucson, Fresno, Bakersfield, Reno, and Sacramento, along with two television stations in Houston and Phoenix.
KFWB-AM operates at 980 kHz, with 5.0kW day and 5.0kW night.
KALIL & CO., INC. is the exclusive broker for this transaction.