We know that Principle Broadcasting knows the way to San Jose, and now – thanks to documents filed with the FCC – we know how much it’s paying to get on the FM dial there. The station in question is KCNL-FM Sunnyvale CA.
The group, which specializes in multiethnic programming, recently closed on the acquisition of KLOK-AM in the market, which according to brokerage Kalil & Co. went for $7.65M.
The transaction application and contract filed with the FCC reveals a $5M price tag for KCNL-FM. It will be paid in cash, with $750K going into escrow up front.
The station is coming from Aloha Station Trust, the holding company run by Jeanette Tully for the purpose of spinning off excess stations from the Clear Channel empire.