Late Tuesday, The E.W. Scripps Co. moved forward with further divestment of its radio stations by agreeing to sell a total of 9 properties, including an FM translator in Tucson, to Lotus Communications for $8 million.
The deal gives Lotus an AM to go with that translator and three FMs. But, that presented a bit of a problem, as Lotus already operates four radio stations in the Tucson market. As such, it agreed to immediately divest two FMs to meet the FCC rules that cap station ownership in single markets, using broker Kalil & Co.
Lotus was true to its word, and is filing Form 314s with the Commission on Monday.
