Cumulus To Sell Los Angeles Property

Cumulus Los Angeles Property La Cienega Jefferson Baldwin Hills 790 KABC Tower Site 95.5 KLOSAs it continues to find ways to reallocate funds to grow its business, the Los Angeles Times reports that Cumulus Media is attempting to sell 10 acres of land it owns in Los Angeles.

The property is home to the studios of Talk 790 KABC and Classic Rock 95.5 KLOS and the tower site of KABC. The Times quotes a real estate broker that the land on the corner of Jefferson Blvd. and La Cienega Blvd. in the Baldwin Hills neighborhood of Los Angeles could be worth as much as $90 Million.

Cumulus CEO Lew Dickey mentioned in the company’s most recent earnings conference call that they had around $100 Million in land assets that they could seek to divest.

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  1. Joseph_Gallant says

    Could there be a “lease-back” for the KABC-770 tower site??

  2. jimh says

    so where would they be moving those KABC towers to, if they don’t do a lease-back, and how much will that new land likely cost them??

  3. BC says

    so they’re selling the property not the stations? I’m a bit confused, my only assumption is they would find some land in the suburbs, but the profit from the divested assets obviously won’t last long, unless they were trying to sell the signals out right. i have a feeling we’ll know within the next few days, at least in most cases, when large stories come out about cumulus it is explained within a few days, but that’s probably because of curious and skeptical share holders.

  4. Nathan Obral says

    If I’m not mistaken, Liberman Broadcasting did the same thing with KHJ, moving that signal to a diplex with KBLA/1580 followed by their historic transmitter site getting demoed.

    The problem with KABC is that their signal is less than ideal for an English-language format. I don’t know if Cumulus will be able to find a site that at least can offer a signal with an identical coverage area.

  5. bubulap says

    Perhaps the REAL ASSETS for any of these stations is not broadcasting, or maintaining radio stations. Maybe having the Telecom signals, or frequencies granted/sanctioned by the FCC is really what businesses wants.

    Look closely at Wireless technology-FCC.. VIDEO-Internet (TimeWarner, Verizon, Vodafone in North Carolina) These are definitely worth much more than local, LA radio stations. Aren’t these the same FCC assets required, whether we are transmitting over the “airways”, new technology Using the Internet, opening up more ways to provide wireless TELECOMMUNICATIONS…

    Just a thought..

    1. Nathan Obral says

      This is a case where the land is worth more than the transmitter facility or studios. As evidenced not long ago with KHJ’s owners’ selling off their transmitter site, as it was prime for redevelopment. Same story here.

      KABC should be able to diplex with another AM facility with minimal issues. Also saves on NIMBY problems if an existing array can be utilized. And finding office space for KABC/KLOS should be not terribly complicated.

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