Late on Wednesday, Meruelo Media announced it was adding to its rapidly growing Los Angeles cluster with the purchase of KXOS-FM from 93.9 Holdings and Grupo Radio Centro. KXOS-FM will join the company’s existing cluster of KPWR, KDAY, KDEY-FM, KWHY-TV, KBEH, and KLOS-FM (which was recently purchased from Cumulus and is expected to close in the third quarter).
CEO Alex Meruelo said, “The acquisition of 93.9 FM KXOS is a key piece in our media division expansion strategy. Our group has done an amazing job curating some of the most recognizable local media brands into one extremely powerful portfolio.”
Otto Padron, President and COO of Meruelo Media, added, “What an amazing few weeks these have been! Adding these spectacular call-letters to our full-market FM radio station SOCAL cluster authenticates our hyper-local media strategy to super-serve clients, partners, and our community. We are also looking forward to a productive multimedia content relationship with our friends of Grupo Radio Centro Mexico.”
What I posted on my LinkedIn account:
“Now, THIS is how LOCAL radio should be built…by LOCAL business men and women, who are from the LOCAL community, serving LOCAL needs. I congratulate Alex Meruelo and his team for their recent success in assembling a very respectable and hopefully effective group of radio and TV stations, including, now, KXOS-FM/Grupo Radio Centro.
Assuming that Meruelo is not accumulating too much debt service to grow its media platform, Los Angeles advertisers and consumers should be very well-served in the months and years ahead by this impressive LOCAL company. I will be carefully watching – and admiring, I believe – the continuing upward momentum of this LOCAL juggernaut-in-the-making. Best wishes, Mr. Meruelo and team!”