More 93.9 KXOS Los Angeles Sale Details
Meruelo Media will pay $35 million total for Grupo Radio Centro’s Regional Mexican “Radio Centro 93.9” KXOS Los Angeles.
The deal is split with $34 million going to station licensee 93.9 Holdings LLC, which GRC owns 25% of to respect the former limits on foreign investment. Direct Grupo Radio Centro subsidiary, GRC LA, which operates KXOS via LMA from the ownership group will sell its holdings, which includes the station’s brand and intellectual property for $1 million.
Unlike Meruelo’s $43 million purchase of Rock 95.5 KLOS in April, there is no immediate LMA attached to the acquisition leaving any potential changes to wait until after the deal closes later this summer.
Original Report 5/22: Meruelo Media continues to grow its holdings in Los Angeles as it follows-up the acquisition of Rock 95.5 KLOS from Cumulus with the addition of Grupo Radio Centro’s Regional Mexican “Radio Centro 93.9” KXOS for an undisclosed amount.
As part of the deal Meruelo will launch a Spanish All-News format in tandem with Grupo Radio Centro on an HD subchannel of KXOS. They will also work to develop content for Mereulo’s KWHY-TV.
Meruelo Media, a division of the Meruelo Group, (“Meruelo”) announced today that it entered into agreement with 93.9 Holdings, Inc. and Grupo Radio Centro Los Angeles to purchase FM radio station KXOS-FM in Los Angeles. KXOS-FM will join the company’s existing cluster of KPWR, KDAY, KDEY-FM, KWHY-TV, and KBEH. The acquisition of KXOS follows Meruelo Media’s recent acquisition of station KLOS, Los Angeles which is expected to close in the third quarter of 2019. After customary government approvals, KXOS will be the seventh station in Meruelo’s Los Angeles broadcast station cluster.
“The acquisition of 93.9 FM KXOS is a key piece in our media division expansion strategy,” stated Alex Meruelo, Chairman and CEO. “Our group has done an amazing job curating some of the most recognizable local media brands into one extremely powerful portfolio.”
Otto Padron, President and COO of Meruelo Media added: “What an amazing few weeks these have been! Adding these spectacular call-letters to our full-market FM radio station SOCAL cluster authenticates our hyper-local media strategy to super-serve clients, partners and our community. We are also looking forward to a productive multimedia content relationship with our friends of Grupo Radio Centro Mexico.”
Mr. Padron stated that Meruelo Media will also launch with Grupo Radio Centro an all-news Spanish language format using one of 93.9 KXOS’s HD Radio channels. In addition, they will work with the Mexican broadcaster to develop other multimedia content for Meruelo’s KWHY 22-TV. Meruelo Media expects the transaction to be completed in the third quarter of 2019, after customary regulatory approvals are obtained.