Lotus Acquires Four Seattle Stations for $18 Million

RADIO ONLINE | Thursday, June 3, 2021

Lotus Communications

Lotus Communications has entered into an agreement with Sinclair Broadcast Group Inc.'s wholly-owned subsidiary, Sinclair Television Group Inc., to acquire Sinclair's radio stations in the Seattle, WA metropolitan area for approximately $18 million in cash and other consideration. The deal includes KOMO (1000 & 97.7), KPLZ (Star 101.5) and Talk KVI-AM (570).

Lotus First SVP Jim Kalmenson commented, "We are excited to work with the amazing staff at KOMO, KPLZ, and KVI. These are legendary stations which share Lotus's vision of producing local programming to serve the community, enhance local neighborhoods, and support our home town businesses. Seattle is home to several excellent broadcasting companies who have made this a great radio market."

Richard A. Foreman Associates initiated the transaction and acted as broker representing Sinclair Broadcast Group.