Educational Media Foundation is acquiring Country 95.3 KRTY Los Gatos/San Jose CA from Empire Broadcasting.
The sale filing attempts to obscure the purchase price, which appears to be $3,138,000 with some prorations and adjustments to be made. The sale will close on whichever comes later between June 1 or ten business days after FCC approval. The seller will retain the KRTY intellectual property.
KRTY will join EMF’s South Bay holdings that current includes “K-Love” on 97.7 KJLV Los Altos while “Air 1” is heard on Venture Technologies Group’s 87.7 KBKF-LD San Jose and KJLV-HD2.
In the February 2022 Nielsen Audio ratings released earlier this week, KRTY set a station record with a 7.5 share in the San Jose market, while rising to a 1.8 share in the adjoining San Francisco market. KRTY is currently the only Country outlet in the Bay Area.
Radio Station KRTY FM, the San Jose market’s only Country facility, is being sold to Educational Media Foundation (EMF).
KRTY is a Class A FM facility operating on 95.3 mhz. It has served the San Jose market with a Country format since 1989. Bob Kieve, a former speechwriter for President Eisenhower, and a leading figure in San Jose until his death in 2020, acquired the station in 1993. His ownership of the station was notable for the level of community service and the fact that the station is one of the few independently-owned FM facilities still operating in a market this size.
VP/General Manager Nate Deaton commented “this is the end of a magical era. Bob would be sorry to see the end of Country Radio in San Jose, but we know he would be proud to see how the employees at the station have honored his legacy since they lost Bob two years ago. We extend our congratulations and compliments to the entire team at EMF—they have been extraordinarily helpful and respectful during the entire transaction. We wish them the very best.”Joe Miller, Vice-President/ Signal Development at EMF, commented, “We have appreciated working with Nate and his team on this transaction and applaud the service KRTY (as well as KARA/KLIV previously) under the Kieve ownership has brought to the Bay Area over the years. They have been a credit to radio industry.”
EMF is paying $3.138 million for the station. Closing is subject to FCC approval and other customary conditions. There is no pre-closing LMA.KRTY, Ltd, the licensee and seller in this transaction, was represented by Houlihah, Lokey, Inc.
