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Lotus Closes on KFWB-AM/Los Angeles for $11.2M


Lotus Communications Corp. has closed on its previously announced acquisition of 5kW KFWB-AM (980)/Los Angeles from Universal Media Access KFWB-AM LLC for $11.2 million. Lotus is a California-based company headed by President/CEO Howard Kalmenson, and First Senior VP Jim Kalmenson, while UMA is a Delaware LLC company. Lotus also owns radio stations in Los Angeles, Las Vegas, Tucson, Fresno, Bakersfield, Reno and Sacramento, along with two television stations in Houston and Phoenix. Kalil & Co. brokered the transaction.

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Latest Radio Stories

CPB to Issue Final Community Service Grant Payments
Corporation for Public Broadcasting (CPB)
Corporation for Public Broadcasting (CPB)
The Corporation for Public Broadcasting (CPB) will distribute $7.1 million in remaining Community Service Grant (CSG) funds to eligible local public radio and television stations, marking what could be the last round of federal support for public media. Without new appropriations, More

Hulvey and Oliviero Join Broadcasters Foundation Board
Mike Hulvey and Chris Oliviero
Mike Hulvey and Chris Oliviero
The Broadcasters Foundation of America (BFOA) has elected Radio Advertising Bureau (RAB) President and CEO Mike Hulvey (far left) and Audacy Chief Business Officer Chris Oliviero to its Board of Directors. The BFOA is the only national charity dedicated exclusively to providing More

Plante to Be Inducted into Colorado Broadcasters HoF
Denise Plante
Denise Plante
iHeartMedia midday host Denise Plante of KWBL (106.7 The Bull)/Denver, who also hosts KWGN's Great Day Colorado and Fox 31's Weekend Vibe, will be inducted into the Colorado Broadcasters Hall of Fame on Friday, October 24. The ceremony will take place at The Dome at AMG in Greenwood Village, where Plante More
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Skyview Networks Ups Ethan Aragon, Heather Baumanis
Ethan Aragon & Heather Baumanis
Ethan Aragon & Heather Baumanis
Skyview Networks has announced two senior promotions across its Finance and Business Development/Communications departments, recognizing the contributions of longtime team members Ethan Aragon and Heather Baumanis. Ethan Aragon has been promoted to Senior More

Coleman, Pantheon Tackle Music Licensing in Podcasts
Coleman Insights & Pantheon Media
Coleman Insights & Pantheon Media
Coleman Insights and Pantheon Media have released a 32-minute roundtable examining how podcasters can legally incorporate copyrighted music-one of the medium's most persistent hurdles. The conversation, featured in Coleman Insights' "Tuesdays With Coleman" blog, brings together Coleman Insights Vice More

BIA Advisory Services, MFM Form Strategic Partnership
BIA Advisory Services & MFM
BIA Advisory Services & MFM
BIA Advisory Services has entered into a new strategic partnership with the Media Financial Management Association (MFM) to provide members with expanded professional development opportunities, exclusive resources, and in-depth analyses of the changing media landscape. "This alliance with BIA is More

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