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Grupo Radio Centro Acquires Stake in L.A. Outlet
RADIO ONLINE | , , |
Grupo Radio Centro announced Wednesday that certain members of the Aguirre family, who own 51.6% of GRC, have agreed to purchase a 49% equity stake in the company's Grupo Radio Centro LA. The Mexican radio operator will retain the remaining 51% stake in GRC-LA -- which was recently formed to provide programming to KMVN-FM under a Local Marketing Agreement (LMA) with Emmis.
In exchange for their 49% equity stake, the Aguirre family members have agreed to be responsible for 49% of the cost of the company's investment in GRC-LA.
Grupo Radio Centro owns 15 radio outlets in Mexico, with 11 stations in Mexico City.
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