Hispanic Broadcasting Corporation, America’s largest Hispanic-targeted radio group, is purchasing four FM stations in Phoenix, Arizona, for $34 million.
The group has agreed to buy Spanish Top 40 KSSL-FM, Classic Hits KBZR-FM and alternative stations KDDJ-FM and KEDJ-FM from Big City, which is keen to reduce its debts.
Expected to be completed in the fourth quarter, the purchases will leave Hispanic Broadcasting with five stations in Phoenix, America’s twelfth biggest Hispanic market. The group announced that three of its new acquisitions will broadcast a new format targeting the Hispanic population, while the other will broadcast programming from its existing Phoenix station KHOT-FM.
Should other pending deals go through, the new purchases take Hispanic Broadcasting’s portfolio to 52 stations in twelve of the fifteen biggest Hispanic markets.
News source: MediaWeek (USA)