Kalil & Co. announced the closing of Spanish AC KMJE-FM, Placerville, California in the Sacramento market, from Results Radio of Sacramento, LLC and Results Radio of Sacramento Licensee, LLC to Lotus Sacramento Corp. and Lotus Communications Corp.
Results Radio is a California-based company headed by Jack Fritz, II. Results Radio owns 11 other FM stations in Sacramento, Chico, Redding, Colusa, and Yuba City, all in California.
Lotus Communications Corp., is a California-based company headed by Howard Kalmenson. Lotus also owns 16 AM and 15 FM stations in Los Angeles, Las Vegas, Tucson, Fresno, Bakersfield, Reno, and Sacramento.
KMJE-FM operates at 92.1 MHz, with 6 kW at 328’ HAAT.
The price was $2.23M with $223K escrow; balance in cash at closing. The LMA began 10/1/13. The FCC file date was 9/4/13.
Kalil & Co., Inc. was the exclusive broker for this transaction.