The exchange of Beasley Media Group News/Talk 720 KDWN/101.5 K268CS Las Vegas to Audacy for Alternative “Alt 107.5” KXTE Pahrump has been filed with the FCC.
No money will exchange hands as part of the swap. An LMA will take effect on Monday, November 14 with Beasley beginning to operate KXTE and Audacy operating KDWN on that date.
Original Report 10/6: Audacy and Beasley Media have agreed to a swap of stations in Las Vegas.
Beasley Media will trade News/Talk 720 KDWN/101.5 K268CS Las Vegas to Audacy for Alternative “Alt 107.5” KXTE Pahrump.
Beasley will add KXTE to its other station holdings that include Classic Hits 96.3 KKLZ, Hot AC “102.7 VGS” KVGS, Adult R&B “Jammin 105.7” KOAS, and Country “107.9 Coyote Country” KCYE. The company states that the syndicated Dave & Mahoney show based at KXTE, will remain on the station following to closing of the deal.
Audacy adds KDWN to its stable of their own News/Talk 840 KXNT, Sports Betting “1140 The Bet” KXST, Hot AC “Mix 94.1” KMXB, CHR 98.5 KLUC, and Rhythmic AC “Q100.5” KXQQ.
Beasley Media Group, LLC (Nasdaq: BBGI) (“Beasley” or the “Company”), a multi-platform media company, announced today that it entered into an asset exchange agreement with Audacy, Inc. (NYSE: AUD) whereby Beasley will exchange the radio station 720 AM KDWN-AM and the translator for 101.5 FM for Alternative 107.5 KXTE-FM, in Las Vegas.
As part of the agreement, longtime Las Vegas-based syndicated morning personalities Dave and Mahoney will continue to be heard weekdays from 6 a.m. – 10 a.m. on KXTE-FM under Beasley’s ownership.
The asset exchange highlights Beasley’s focus on premium local programming and content and is complementary to the Company’s four other radio stations and digital operations in Las Vegas, the 31st largest designated market in the country.
Commenting on the proposed transaction, Caroline Beasley, Chief Executive Officer said, “Throughout Beasley Broadcast Group’s 61-year history, we have actively managed our station portfolio with the goal of serving the communities where we operate with the best local programming and brands, diversifying our operations, managing risk and improving financial results. The agreement to exchange KDWN AM/FM translator for KXTE-FM addresses all of these strategic objectives and upon completion, will complement our Las Vegas market presence and content with five strong signals in the market.”
The transaction is expected to close in the fourth quarter of 2022 subject to Federal Communications Commission approval and other customary closing conditions.
