Bonneville International Corporation Enters into Definitive Agreement with Entercom to Acquire San Francisco and Sacramento Radio Stations
Aug 03, 2018
SALT LAKE CITY, UT – August 3, 2018 – Bonneville International Corporation (“Bonneville”) is pleased to announce that it has entered into a definitive agreement with Entercom Communications and related entities to purchase four radio stations in San Francisco and four radio stations in Sacramento 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. The stations are:
San Francisco KMVQ-FM Contemporary Hit Radio
San Francisco KBLX-FM Urban Adult Contemporary
San Francisco KOIT-FM Adult Contemporary
San Francisco KUFX-FM Classic Rock
Sacramento KHTK-AM Sports
Sacramento KNCI-FM Country
Sacramento KYMX-FM Adult Contemporary
Sacramento KZZO-FM Hot Adult Contemporary
The transaction is pending regulatory approval, and is expected to close in late 3rd quarter or early in the 4th quarter of this year. “We are thrilled to acquire these fine stations, representing some of the strongest media brands on the West coast.”, said Darrell K. Brown, President of Bonneville, “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.
About Bonneville International Corporation: Founded in 1964, Bonneville International, headquartered in Salt Lake City currently owns and operates the dominant TV station (KSL-TV) in Salt Lake City and market leading radio stations in Seattle, Phoenix, Denver and Salt Lake City. The Bonneville group of stations provide leadership that builds up, connects, informs and celebrates the communities in which they serve.
About Deseret Management Corporation: Deseret Management Corporation (DMC) is a for-profit arm of The Church of Jesus Christ of Latter-day Saints. DMC was organized in 1966. Today it owns and oversees life insurance, media, and hospitality businesses including Bonneville International Corporation, Deseret News Corporation, Deseret Digital Media, Deseret Book Company, Bonneville Communications Corporation, Beneficial Life Insurance Company and Temple Square Hospitality.
Press contact: Candice Madsen, 801-325-3122, firstname.lastname@example.org