Multi-ethnic specialist Principle Broadcasting Network has a deal that will put it into its fourth major market – and seller Univision will have a little more cash to play with. PBN is getting 1170 kHz KLOK-AM in San Jose. According to brokerage Kalil & Co. Inc., the price tag reads $7.65M.
In the world of Arbitron, San Jose is embedded in the San Francisco market. PBN will add it to a portfolio which already includes outposts in New York, Boston and Dallas. PBN President/CEO Bill Saurer commenter, “Principle looks forward to working with and serving the rich variety of cultures that populate the bay area with a very powerful signal,” strongly indicating that a switch to Ethnic programming is in store. He’s also talking about KLOK’s 50 kw-D and 5 kw-N.
Univision, meanwhile, will not have to sacrifice KLOK’s programming in a market where it owns and operates a number of stations. The Radio Cadena format will move over to KBRG-FM’s HD2 side channel.
RBR/TVBR observation: It seems that prices are finding their way to what the real market will bear, and as a result, deals are slowly starting to get done. But it’s still too early to call it a trend.