Three years ago Emmis Communications inked a put and call agreement with Grupo Radio Centro setting up a $110M LMA/option for what was then KMVN-FM Los Angeles. The station is now KXOS, and the buyer can get it at a discount if it closes in a little less than a year, according to new documents filed with the FCC.
The big day is 3/27/13 – if the deal closes by then, the price will drop to $85.5M. If not, it bounces all the way back to the original $110M.
Mexican GRC has a qualified designee to acquire the station in Francisco Aguirre Cranz. He brings an ingredient to the table that GRC lacks – American citizenship.
The station is now known as Exitos 93.9 FM. Its Class B signal is more than 3,000 feet above average terrain and puts a 60 dBu over much of Riverside/San Bernardino to the east, encompasses Lancaster to the north, almost stretches as far as Oxnard to the west and stops just short of Camp Pendleton to the south.