KMVN moving to Mexican company


Mexico’s Grupo Radio Centro announced Friday that it has signed a deal to LMA KMVN-FM Los Angeles from Emmis Communications. The seven-year deal has a call and put option throughout the term under which Grupo Radio Centro could buy the station, assuming it finds a way to comply with the FCC’s foreign ownership rules or they change in the interim. In the meantime, Grupo Radio Centro is paying Emmis $7 million per year, with a cash payment of $14 million up front to cover the first two years.