Spanish Broadcasting System is set to purchase Houston gospel station KROI from Urban One for $7.5 million.
Urban One is selling the station to meet FCC ownership limits after purchasing Cox Media Group’s four stations in the Houston market for $27.5 million earlier in April. Urban One will also need to sell one more station in the area to be in compliance.
The deal with SBS should close before October of this year. When Urban One bought KROI in 2004, they paid $72.5 million. Houston would be SBS’ first acquisition since purchasing stations in Orlando and Tampa last year.
