Spanish Broadcasting System to Acquire KROI-FM/Houston
| RADIO ONLINE | Friday, April 21, 2023 | 1:08am CT |
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 Spanish Broadcasting System |
Spanish Broadcasting System SouthWest has agreed to acquire 40kW Gospel KROI-FM (92.1) serving Houston from Radio One for $7.5 million. The spinoff is related to Urban One's purchase agreement with Cox Media Group (CMG) to acquire 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).
On April 5, under the related escrow agreement, SBS SouthWest deposited $375,000 into an escrow account. At closing, the company will pay the remaining balance, net of the escrowed funds to Radio One. Subject to FCC regulatory approval, the transaction is expected to close during the third quarter of 2023.
