Ed Stolz is the new entrant in the Las Vegas market with a deal to buy KBET-AM and the 104.3 frequency of KCYE-FM from Beasley Broadcast Group for $15.25 million. However, Stolz’s Silver State Communications will be buying the CHR format and calls of Beasley’s KFRH-FM, while Beasley will keep the intellectual property and calls of Country KYCE and move them to 102.7.
“This transaction reflects our long-term commitment to the Las Vegas market as well as our focus on further de-leveraging our balance sheet. Upon completion of the transaction, Beasley Broadcast Group, Inc. will own three stations in Las Vegas, including Coyote Country 102.7 KCYE-FM, Classic Hits 96.3 KKLZ-FM, and NewsTalk 720 KDWN-AM. Notwithstanding the current economic and market challenges, we continue to believe that Las Vegas remains one of the most vibrant and promising radio markets in the country and that our cluster will be well positioned as the economy and industry rebounds,” said Beasley Chairman and CEO George Beasley.
Mike Bergner brokered the deal to bring Ed Stolz into active ownership in another market (He currently owns KRCK-FM Palm Springs, CA). And when it comes to owners, they don’t get much more hands on that Stolz. He owned KWOD-FM Sacramento for 25 years and made it into a nationally famous Alternative station. He then battled in court with Entercom in an attempt to keep from going through with a sale, but the courts held that the deal was binding and the station is now part of Entercom’s Sacramento cluster.
790 KBET, licensed to Winchester, NV, is 1kw day/300 watts night. The 014.3 FM facility is a full Class C licensed to North Las Vegas. Both are full market coverage signals.