Some readers may be surprised that Emmis KPWR in Los Angeles wasn’t scooped up by a traditional broadcaster. L.A. is home to Cumulus, iHeart, CBS (soon to be Entercom), Univision, SBS and Entravision among others. With iHeart and Cumulus dealing with debt issues and CBS and Entercom somewhat busy at the moment, perhaps it does make sense that a dark horse like Meruelo was able to march into the number two market and make Jeff Smulyan an offer he just couldn’t refuse. So who is the Meruelo Group?
The Meruelo Group was founded in 1986. it’s a minority-owned and operated holding company with interests in Construction and Engineering, Hospitality and Gaming, Television, Radio, Real Estate, Food Services and Private Equity. Founder Alex Meruelo, established his first take-out and delivery pizzeria, La Pizza Loca, specifically catering to the Hispanic community and now boasting 50 outlets in L.A. and Orange counties.
The Meruelo Group also owns the 100,000 square foot, 200 room Grand Sierra Resort and Casino in Reno. The company also has a controlling interest in Pacific Whey Café, an upscale comfort food café and bakery. There are currently three cafés and a catering division. In all The Meruelo Group has a portfolio of more than 35 companies in 7 industries with over 8,000 employees.
