Most ceiling-grazing radio clusters use the 5-FM 3-AM configuration to get to the upper reaches of the local ownership cap – but the growing cluster being formed by Lotus Communications in Vegas will go the opposite route.
The group is buying KRLV-AM and KLAV-AM from Hemisphere Media LLC. The seller is headed by Kimberly Hogan, and also includes Jeffrey Shapiro among its principals – Shapiro has been associated with the radio business in New England for years.
Lotus is headed by Howard A. Kalmenson, and holds both radio and television properties in the western part of the US.
The two AMs are coming for $800K, comprised of a $160K escrow deposit being handled by Bergner & Co. and a cash payment for the remainder.
All eight of the stations in the resulting cluster are licensed to Las Vegas. Here’s what the cluster will look like when the deal closes:
* KRLV-AM: a Class C on 1340 kHz with 1 kW-U, ND. Format: Spanish
* KLAV-AM: a Class C on 1230 kHz with 1 kW-U, ND. Format: Talk
* KBAD-AM: a Class B on 920 kHz with 5 kW-D, 500 W-N, DAN. Format: Sports
* KWWN-AM: a Class B on 1100 kHz with 22 kW-D, 2 kW-N, DA2. Format: Sports
* KENO-AM: a Class B on 1460 kHz with 10 kW-D, 620 W-N, DA2. Format: Spanish Sports
* KOMP-FM: a Class C on 92.3 mHz with 25 kW @ 3,688’. Format: Rock
* KWID-FM: a Class C0 on 101.9 mHz with 47 kW @ 1,900’. Format: Mexican
* KXPT-FM: a Class C on 97.1 mHz with 25 kW @ 3,675’. Format: Classic Rock