Ed Stolz to Acquire KNGY/San Francisco for $6.5M
Ed Stolz' Golden State Broadcasting has agreed to acquire CHR KNGY-FM (Energy 92.7)/San Francisco for $6.5 million, a class A facility licensed to Alameda, CA. The seller, Flying Bear Media, also inks a Local Marketing Agreement that will become effective if the closing doesn't occur before September 13. Stolz is also acquiring the intellectual property of the Energy format, including its call letters.
You'll remember that Stolz' Royce International and Entercom spent several years fighting over the ownership of KWOD-FM/Sacramento after Royce agreed to sell the outlet for $25 million and later tried to pull out of the deal. Eventually, a court ruled that Entercom had a valid contract to buy KWOD.
