Bonneville Turns San Francisco and Sacramento LMAs Into Purchase
Bonneville International Corporation has announced it will pay $141 million for the eight stations in Sacramento and San Francisco it has been operating via LMA from Entercom’s divestiture trust since the closing of its merger with CBS Radio.
The stations involved in the sale are AC “Mix 96” 96.1 KYMX, Hot AC “Now 100.5” KZZO, “New Country 105.1” KNCI, and “Sports 1140” KHTK in the Sacramento market AC 96.5 KOIT, Classic Rock “98.5 K-Fox” KUFX, CHR “99.7 Now” KMVQ and Urban AC 102.9 KBLX in the San Francisco market.
Bonneville began operating the eight stations in November 2017 following the closing of the Entercom/CBS Radio merger.
Entercom Communications Corp. a leading media and entertainment company and one of the two largest radio broadcasters in the U.S., today announced a definitive agreement to sell certain radio stations in San Francisco and Sacramento to Bonneville International Corporation (“Bonneville”) for $141 million in cash. The stations being disposed have been held in an FCC disposition Trust and have been operated by Bonneville under Local Marketing Agreements (“LMA”) since the closing of the Company’s merger with CBS Radio, Inc. These stations are:
Market Station Format San Francisco KMVQ-FM Top 40 San Francisco KBLX-FM Urban Adult Contemporary San Francisco KOIT-FM Adult Contemporary San Francisco KUFX-FM Classic Rock Sacramento KHTK-AM Sports Sacramento KNCI-FM Country Sacramento KYMX-FM Adult Contemporary Sacramento KZZO-FM Hot Adult Contemporary
This transaction, which is expected to close this year either late in the 3 [rd] quarter or early in the 4 [th] quarter, will complete the dispositions required by the U.S. Department of Justice in connection with the Company’s merger with CBS Radio, Inc.