The Mexican based Grupo Radio Centro, which has leased Spanish AC “Exitos 93.9” KXOS Los Angeles since April 2009 has agreed to exercise its option to purchase the station outright.
93.9 Holdings will pay Emmis $88.5 Million for the station. Grupo Radio Centro will hold a 25% stake in the holding company with the other 75% held by members of the Aguirre family that are United States citizens. The Aguirre’s hold a controlling stake in the Mexican company.
Emmis retains Urban “Power 106” 105.9 KPWR in Los Angeles. Grupo Radio Centro operates 14 stations in Mexico, of which 12 are in Mexico City.