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KLOS Sold - Now it's a Fact!

DavidEduardo

DavidEduardo

Moderator/Administrator
Staff member
" As dawn breaks this morning over Los Angeles, no one is yet confirming — or denying — the Thursday evening Facebook post by Tom Leykis that created a ton of conversations late Thursday night, leading RAMP to believe with a high level of confidence that Cumulus Media is indeed making preparations to sell heritage Rock station KLOS/Los Angeles to Meruelo Media, owners of crosstown Rhythmic KPWR (Power 106) and Classic Hip Hop KDAY."

Frome http://ramp247.com/programming/cumulus-selling-kloslos-angeles/

Moderator Note: Created separate thread.

Thanks to gr8oldies for noticing this unconfirmed but credible rumor.
 
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If true i wonder if they would keep the current format? Interesting to see what happens. Not a fan of classic rock but i love jonsey jukebox!!!
 
hope it not true klos has been around for almost 50 years ....but it it true would most likly see a format change or a rebranding is lilely
 
LA Radio has said this afternoon that it is true. Leykis has some good sources.

Now I wonder what the price is? Didn't EMF pay over $100 million for 100.3?
 
GeoffR said:
LA Radio has said this afternoon that it is true. Leykis has some good sources.

Now I wonder what the price is? Didn't EMF pay over $100 million for 100.3?
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LARadio also said----$43 million cash.

EMF bought three stations, among them KSWD, for $57.75 million---no breakout, but unless the FMs in San Diego and Escondido were seriously cheap, KSWD likely went for less than $43 mil.
 
pjc1961 said:
From AllAccess, the story with comments from Cumulus:

https://www.allaccess.com/net-news/...us-sells-klos-los-angeles-to-meruelo-media-sw

LMA starts on 4/16/2019.
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That's like, tomorrow. These guys move fast when they are downsizing.

One assumes the new owners are ultimately going to change the station format and if so, that KLOS 50th Anniversary celebration better get going right away. Now the what seemed like an awkward and rushed Mark and Brian reunion is starting to make a lot more sense.

And yes, it is a sad day when radio stations we loved go away. I am quite sure I, like many others, will not be a fan of whatever they put on the station afterwards. Radio is still better at alienating listeners than attracting them!
 
Taken from the "KXOS Financial" thread a few weeks ago:

radiojomo said:
I could see Meruelo selling KDAY to a foreign broadcaster, acquiring KXOS and moving the '90s/'00s hip-hop format to a stronger signal. I think it could be a hit considering KDAY hits a 1.2 with its really limited signal and would hit 25-54 quite nicely, given the demographic makeup of Southern California.
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DavidEduardo said:


That's an interesting and strong idea. Makes a lot of sense, can be monetized and there is a market.
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As it turns out, Meruelo did purchase a big signal: substituting KLOS for KXOS.

Many possibilities abound for how Meruelo will handle their three frequencies 93.5, 95.5 + 105.9 (four stations with the combined KDAY/KDEY).
Side note (mentioned in its own thread): J Cruz Show is no longer in mornings at Power 106 -
replaced for the time being by "L.A.'s Hip Hop Morning Show".
 
ChannelFlipper said:
That's like, tomorrow. These guys move fast when they are downsizing.

One assumes the new owners are ultimately going to change the station format and if so, that KLOS 50th Anniversary celebration better get going right away. Now the what seemed like an awkward and rushed Mark and Brian reunion is starting to make a lot more sense.

And yes, it is a sad day when radio stations we loved go away. I am quite sure I, like many others, will not be a fan of whatever they put on the station afterwards. Radio is still better at alienating listeners than attracting them!
Click to expand...

...unless you’re a potential listener to KDAY who can’t get the current signal well.
 
Cumulus Selling Another Iconic Station

Cumulus is selling another former ABC-owned station (as was WPLJ/NY), KLOS-FM in Los Angeles, to Meruelo Media. KLOS is a legendary station, playing rock for the past 50 years.

Meruelo recently purchased KPWR-FM, a Rhythmic CHR station in L.A., from Emmis and also owns KDAY-FM, a Hip-Hop outlet.

The price for KLOS according to All Access is $43 million.
 
What are the chances???

With KLOS being sold, what are the chances of it staying in the format? If 95.5 flips, who would take up the slack? Is it worth it? Entercom ditched The Sound. So is there any money in LA for Classic Rock radio?
 
leethalweapon said:
With KLOS being sold, what are the chances of it staying in the format? If 95.5 flips, who would take up the slack? Is it worth it? Entercom ditched The Sound. So is there any money in LA for Classic Rock radio?
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Part 1: If you owned KDAY and could move it to 95.5, what are the chances you'd skip that and keep playing Classic Rock on KLOS?

Part 2: Entercom leaving the format wasn't enough for a signifcant increase in KLOS' numbers. Beyond JACK-FM and KCSN, I think the answer is no.
 
michael hagerty said:
Part 1: If you owned KDAY and could move it to 95.5, what are the chances you'd skip that and keep playing Classic Rock on KLOS?

Part 2: Entercom leaving the format wasn't enough for a signifcant increase in KLOS' numbers. Beyond JACK-FM and KCSN, I think the answer is no.
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Now, I should know from experience that whenever a new owner says there will be no changes that you should start packing your stuff.

But does this sound like the press release you would put out the day before taking over in a LMA if you were to immediately blow it up?*

https://www.prnewswire.com/news-rel...ulus-media-to-purchase-klos-fm-300832261.html

*unless, of course, the plan is to swap formats between 93.5 and 95.5...
 
This was posted on the companies web page I got from a Facebook page called RAMP.

Meruelo Media Buying KLOS/Los Angeles
As first reported by RAMP last Friday, Meruelo Group officially announced that its media division, Meruelo Media, has entered into an agreement with Cumulus Media Inc. to purchase KLOS/Los Angeles. The heritage Rock station will join Meruelo's existing Los Angeles portfolio, which includes Rhythmic KPWR (Power 106), Classic Hip Hop 93.5 KDAY and simulcast partner 93.5 KDEY-FM/Riverside, along with television properties KWHY 22 and KBEH 63.

In making the announcement, Alex Meruelo, Chairman and CEO of the Meruelo Group said, "95.5 KLOS is one of the most iconic Rock stations in the world. We are thrilled to add this legendary brand to our Media Division."

Otto Padron, President of Meruelo Media, added, "KLOS will be a crown piece in our strategically curated, L.A.-focused multimedia portfolio. As we've done with all our media properties, we will take full advantage of our deep local resources to grow the globally recognized KLOS heritage rock brand for generations to come."

Effective Tuesday, April 16, 2019, Meruelo Media will take over programming of KLOS under a Local Marketing Agreement. Mr. Padron expects the transaction to be completed in the third quarter of 2019, after customary regulatory approvals are obtained.

So it looks like we have a real BROADCASTER THAT CARES ABOUT HERITAGE!!! THANK THE GODS IN HEAVEN!!!! KLOS is going nowhere. Too bad they could not buy WPLJ in NYC!!!

Tommy C.
 
thebeach33445 said:
This was posted on the companies web page I got from a Facebook page called RAMP.

Meruelo Media Buying KLOS/Los Angeles
As first reported by RAMP last Friday, Meruelo Group officially announced that its media division, Meruelo Media, has entered into an agreement with Cumulus Media Inc. to purchase KLOS/Los Angeles. The heritage Rock station will join Meruelo's existing Los Angeles portfolio, which includes Rhythmic KPWR (Power 106), Classic Hip Hop 93.5 KDAY and simulcast partner 93.5 KDEY-FM/Riverside, along with television properties KWHY 22 and KBEH 63.

In making the announcement, Alex Meruelo, Chairman and CEO of the Meruelo Group said, "95.5 KLOS is one of the most iconic Rock stations in the world. We are thrilled to add this legendary brand to our Media Division."

Otto Padron, President of Meruelo Media, added, "KLOS will be a crown piece in our strategically curated, L.A.-focused multimedia portfolio. As we've done with all our media properties, we will take full advantage of our deep local resources to grow the globally recognized KLOS heritage rock brand for generations to come."

Effective Tuesday, April 16, 2019, Meruelo Media will take over programming of KLOS under a Local Marketing Agreement. Mr. Padron expects the transaction to be completed in the third quarter of 2019, after customary regulatory approvals are obtained.

So it looks like we have a real BROADCASTER THAT CARES ABOUT HERITAGE!!! THANK THE GODS IN HEAVEN!!!! KLOS is going nowhere. Too bad they could not buy WPLJ in NYC!!!

Tommy C.
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We'll see . I am more interested in what they DO instead of what they say. Buyers and sellers often speak in ingenuous platitudes on transaction day, and then set about their real plans later.
 
Color me surprised. Given the population makeup of L.A., moving KDAY seems like the smarter move. This will be fascinating to watch.
 
I've held the opinion that it was the ABC Radio group that bankrupted Citadel, and then did the same to Cumulus. Selling off the pieces will do little to recoup the $2.5 billion purchase price, but it's a start. These radio stations were not in good shape when they were bought. Looks like Cumulus will retain the low-rated KABC, because no one wants it. The main benefit here was the tower land, that was sold for more than the value of both stations.
 
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