There’s a change in ownership at a pair of AMs in the Pacific Northwest that serve the region’s biggest market with Punjabi programming targeted to South Asians.
It’s the top deal in the Thursday edition of TRANSACTIONS TODAY, which also has the price Urban One is paying for WTEM-AM in Washington, D.C.
In a deal consummated May 17 and filed with the Commission on Thursday (5/24), Akal Broadcasting Corp. has agreed to sell KZIZ-AM 1560 in Pacific, Wash., and simulcast partner KKDZ-AM 1250 in Seattle — along with FM translator K263BJ at 95.3 MHz in Kent, Wash. to XL Media Inc.
KZIZ and KKDZ are each Class B facilities. KKDZ takes its call letters from its mid-1990s days as a flagship station for KIDSTAR, a children’s radio programming network. From 1998-2015, it was the main Radio Disney affiliate for Seattle.
At that time, a switch to South Asian programming was made, leading to today. The stations are presently branded as “Radio Punjab,” sharing programming also aired in Bakersfield, Fresno and Sacramento, Calif.
XL is acquiring the Sea-Tac stations for $850,000. A $25,000 deposit has been made.
XL’s legal counsel in this transaction is Mary O’Connor of Wilkinson Barker Knauer LLP.
HERE’S WHAT ALFRED IS PAYING DAN SNYDER
- Three days ago RBR+TVBR reported on the sale of WTEM-AM 980 in Washington to Urban One by Dan Snyder-controlled Red Zebra Broadcasting. Now, we can report that Urban One is paying $4.2 million for the Sports Talker. It made the revelation in an SEC filing; a Form 314 filing is yet to be seen from Urban One. Urban One expects to generate approximately $1.7 million of pro-forma EBITDA from the assets, which represents a buyer’s multiple of approximately 2.5x.