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GGB/Las Vegas has closed on its $8.5 million purchase of Rhythmic AC KOAS-FM (105.7) and Alternative KVGS-FM (107.9)/Las Vegas from Riviera Broadcast Group. GGB was formed by George Beasley, Chairman/CEO of Beasley Broadcast Group, to acquire the two stations.

GGB earlier inked a deal with Beasley Broadcast Group to operate the duo under a Local Marketing Agreement (LMA). Beasley will provide both stations with sales and other management services for 50% of the monthly station operating incomes.

Commenting on the agreement, George Beasley stated, "This transaction allows Beasley Broadcast Group to leverage its existing Las Vegas operating and management capabilities to immediately generate new cash flow through a structure that requires no capital commitment.

Beasley Broadcast currently owns KCYE-FM (Coyote Country 102.7), Classic Hits KKLZ-FM and News/Talk KDWN-AM in Las Vegas.

Michael J. Bergner of Bergner & Co. was the exclusive broker in this transaction. (09-01-10)

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