The agreement sending KLOK-AM San Jose CA from Univision Radio Inc. to Principle Broadcasting Network is officially a done deal. According to brokerage Kalil & Co., the price was $7.65M.
The toner has barely settled on a prior announcement from Principle, which was the acquisition of KCNL-FM from the Aloha Station Trust, the holding company that Clear Channel has been using for stations it is trying to spin due to local ownership cap restrictions.
Principle’s Bill Sauer says the stations will both be put to work serving the multicultural community of the Bay area.
