23 de mayo de 2019
In its second Los Angeles radio purchase this year, Meruelo Media has cut a deal to buy regional Mexican Radio Centro 93.9 KXOS (FM 93.9 Éxitos) from 93.9 Holdings and Grupo Radio Centro Los Angeles. The latest purchase makes KXOS the seventh broadcast station in Meruelo’s Southern California radio and TV portfolio.
“The acquisition of 93.9 FM KXOS is a key piece in our media division expansion strategy. Our group has done an amazing job curating some of the most recognizable local media brands into one extremely powerful portfolio,” said Alex Meruelo, Chairman and CEO of Meruelo Media.
The transaction comes less than six weeks after Meruelo struck a US$43 million deal to buy KLOS from Cumulus Media. Meruelo took control of the heritage rocker under a local marketing agreement April 16.
Meruelo Media president and COO Otto Padrón says they will launch with Grupo Radio Centro a Spanish language all-news format on a KXOS HD Radio side channel. Meruelo also plans to work with the Mexican broadcaster to develop other multimedia content for its L.A. television station KWHY-TV.
The company, which says it is the largest minority-owned media group in California and operates media properties solely in Southern California, also owns KBEH-TV in Oxnard, CA.
“Adding these spectacular call-letters to our full-market FM radio station SoCal cluster authenticates our hyper-local media strategy to super-serve clients, partners and our community. We are also looking forward to a productive multimedia content relationship with our friends of Grupo Radio Centro Mexico,” added Padrón.
The company expects the transaction to close in the third quarter, following regulatory approvals.