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Bonneville Acquires Eight California Stations for $141 Million
RADIO ONLINE | Monday, August 6, 2018 |
Bonneville International has agreed to acquire four radio stations in San Francisco and four radio stations in Sacramento from Entercom for $141 million. Bonneville has been programming the stations, which have been held in an FCC disposition Trust, under Local Marketing Agreements (LMAs) since November 17, 2017. Included in the deal are CHR KMVQ-FM, Urban AC KBLX-FM, AC KOIT-FM, and Classic Rock KUFX-FM/San Francisco and Sports KHTK-AM, Country KNCI-FM, AC KYMX-FM and Hot AC KZZO-FM/Sacramento. The transaction is pending regulatory approval and is expected to close in the late third quarter or early in the fourth quarter of this year.
"We are thrilled to acquire these fine stations, representing some of the strongest media brands on the West coast," said Bonneville President Darrell K. Brown. "They are run by some of the finest radio operators in the country, who we are pleased to say have already joined us as employees of Bonneville. They are terrific, and we are excited to be back in Northern California in these two wonderful radio markets". Kalil & Co. acted as advisor for Bonneville in the transaction.
Founded in 1964, Bonneville International, headquartered in Salt Lake City currently owns and operates the KSL-TV in Salt Lake City and market leading radio stations in Seattle, Phoenix, Denver and Salt Lake City.
Kalil & Company brokered the transaction.
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