After being rumored for a few weeks, Entercom has announced its purchase of Urban AC 102.9 KBLX San Francisco from the creditors of Inner City Broadcasting for $25 Million.
Entercom will begin programming the station via a Time Brokerage Agreement as soon as it is approved by the Bankruptcy Court handling Inner City’s bankruptcy proceeding. The company plans on retaining the current format of the station.
The sale comes after the remainder of Inner City’s stations were sold to the Magic Johnson led YMF Media for $180 Million. KBLX GM Harvey Stone told the San Francisco Chronicle on Sunday that “It’s probably gonna happen. Supposedly, they’ll hold onto the format.”