Entercom says Aloha to CCU


Jeanette Tully, trustee of Aloha Station Trust, has faced slow going as she has tried to find buyers for Clear Channel overstock radio stations in the face of fierce deal-dampening headwinds. But a new deal with Entercom for KUFX-FM San Jose has cleared off the shelf in at least one market.

Entercom, headed by David Field, will pay $9M for the station, with $1.35M going into escrow and the rest payable in cash at closing. Brokerage firm Media Venture Partners represented Aloha in the deal.

San Jose is considered by Arbitron to be a market unto itself, and is also considered to be embedded in the San Francisco market. Although this will be Entercom’s first San Jose station, it will join a cluster of three FMs licensed to San Jose’s larger neighbor.

KUFX’s Classic Rock format will join an eclectic mix that includes the Country stylings of KBWF-FM, the Adult Contemporary fare of KOIT-FM and the Classical music found on KDFC-FM.

Aloha earlier sold two FMs to The Principle Network, headed by Charles W. Banta and William Saurer, in separate deals that were filed about a year apart. After buying KLOK-AM from Univision in the summer of 2009, Principle acquired KCNL-FM from Aloha for $5M in a deal filed 11/23/09. It came back with $9.25M to buy KSJO-FM a week shy of a year later, filing to acquire that station from Aloha on 11/17/10.