Renda Broadcasting Sells Oklahoma Stations for $40M

RADIO ONLINE | Tuesday, July 17, 2012 | 3:30pm CT

Renda Broadcasting is selling off more properties. This time it's the company's 4-station cluster in Oklahoma City which is being picked up by Tyler Broadcasting for $40 million. Just this past March, Renda sold two stations in Tulsa to Journal Broadcast Group. The press release issued by Tony Renda had little in the way of explanation other than to say: "this transaction will benefit both parties."

The four Oklahoma City stations Tyler is purchasing include 104.1 KMGL FM, 107.7 KRXO FM, 92.5 KOMA FM and 1520 KOKC AM. Tyler Broadcasting already owns five stations in Oklahoma City including 93.3 KJKE FM, 97.3 KKNG FM, 106.7 KTUZ FM, 1560 KEBC AM and 890 KTLR AM but Tyler will be selling two of those.

Tyler Broadcasting President Ty Tyler said, "The Tyler family is pleased to add these outstanding, well run Renda properties to our cluster. The combined companies will allow us to better serve the listeners, advertisers and our home town of Oklahoma City. We are pleased to have reached an agreement with Tyler Broadcasting for our Oklahoma City cluster."

Renda Broadcasting Corp was represented by Media Venture Partners, LLC in the deal while Tyler Broadcasting was represented by Kalil & Co.