Emmis to Sell KPWR-LA’s Power 106

Emmis Communications will sell KPWR-Los Angeles’ POWER 106 to an affiliate of The Meruelo Group for $82.75 million, subject to closing adjustments and prorations, pending FCC and other regulatory approvals.
A Local Marketing Agreement (LMA) will begin promptly following the expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
The Meruelo Group, whose Meruelo Media affiliate acquired Los Angeles TV station KWHY-22 in 2011 and radio station KDAY in 2014, is the largest minority owned media group in California.
“The acquisition of POWER 106 is a game changer for our group and our media division,” stated Meruelo Chairman/CEO Alex Meruelo. “As a fan and someone who has had a business relationship with this station for more than 30 years, I understand the importance of Power 106 to this community. We are committed to bringing the resources, talent and passion necessary to make this legendary brand the #1 radio station in Los Angeles.”