Meruelo Media has spent $126 million on two radio stations in Los Angeles. KPWR was purchased from Emmis in 2017 for $83 million and the announcement this week that the company was buying rocker KLOS from Cumulus for $43 million.
With the purchase of rocker KLOS-FM in Los Angeles Meruelo has certainly bulked up its portfolio in one of the largest media markets in the country. KLOS joins KPWR, KDAY, KDEY-FM, KWHY-TV, and KBEH as the sixth broadcast station in Meruelo Media’s Los Angeles cluster. Meruelo will take over the station today in an LMA.
CEO Alex Meruelo said, “KLOS 95.5 is one of the most iconic Rock stations in the world. We are thrilled to add this legendary brand to our Media Division.”
Otto Padron, President of Meruelo Media, added, “KLOS will be a crown piece in our strategically curated, LA-focused multimedia portfolio. As we’ve done with all our media properties, we will take full advantage of our deep local resources to grow the globally recognized KLOS heritage rock brand for generations to come.”
The deal with Cumulus is expected to close in the third quarter of this year.