Hispanic specialist Liberman Broadcasting is committing $15M cash to the acquisition of a bilingual FM station in Phoenix AZ. It has agreed to acquire KVIB-FM there from Sun City Communications. It’s already put $800K in escrow. This follows on the group’s August announcement that it was setting up shop in Phoenix with KVPA-LP, a low power television station it’s buying from Latin American Broadcasting of Arizona for $1.25M. There are no cross-ownership implications between any media outlet and a low power television station.
RBR/TVBR observation: If Liberman has decent cable carriage for the LPTV, the ability to promote it on this FM station may up its value exponentially. Good move.