Urban One to Acquire Four Houston Stations from CMG

RADIO ONLINE | Tuesday, April 11, 2023

Urban One

Urban One has signed a definitive asset purchase agreement with Cox Media Group (CMG) to purchase its radio cluster in Houston. Under the agreement, Urban One will acquire Country KKBQ-FM (93Q), Classic Rock KHPT-FM and KGLK-FM (The Eagle 106.9 & 107.5) and KTHT-FM (Country Legends 97.1). Terms of the deal were not immediately disclosed. Urban One will divest stations to comply with FCC ownership regulations in the market.

"This acquisition is accretive and aligns with our long-term strategic goals by building our broadcast reach in Houston. Our current stations 97.9 The Box and Majic 102.1 are market leaders, and combined with our new stations, allow us to strengthen our business footprint while offering the Houston community more diversified music and special event programming," said Urban One President and CEO Alfred Liggins.

"The CMG Houston radio team includes incredible people committed to informing, entertaining and elevating the Houston community," said CMG President & CEO Dan York. "CMG has invested in and grown the value of CMG's Houston radio brands and, while it's difficult to part ways with the valued team members in Houston, we know they will continue their success as part of Urban One. I want to sincerely thank each of them for their positive impact on their audiences, communities, clients and CMG."

The acquisition and disposition transactions are subject to FCC approval and other customary closing conditions. CMG and Urban One Inc. will continue to operate their respective stations until the transactions close.