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Friday, May 29, 2009

A Las Vegas combo is sold for $15,250,000 – but there's a twist

Beasley Broadcast Group is the seller and Silver State Communications (Ed Stolz) is the buyer, and these are his first purchases in Las Vegas. He’ll acquire KBET at 790, which Beasley has just begun transitioning from “Country Legends” to sports with the addition of a local daytime sports show and the Los Angeles Dodgers. It has 1-kw days, 300 watts at night. The FM situation is where the twist is. Silver State will get the full Class C 104.3 facility of KCYE – but not its “Coyote” country format. Instead, Stolz is buying the intellectual property of rhythmic CHR “Now” KFRH, at 102.7. That’s a new format, since Beasley shifted from a hot AC “Fresh” to CHR “Now” just two months ago. For listeners, it will be a case of “Coyote” and “Now” swapping frequencies. Beasley founder George Beasley says the all-cash deal will help de-leverage the balance sheet of the publicly-traded BBGI. It will retain three stations – classic hits KKLZ (96.3), “News Talk 720” KDWN and Coyote Country, now at 102.7. It’s a Class C licensed to Boulder City and has less height than 104.3, but is closer to town. Broker on the deal – Michael Bergner. Discuss it here:

Tags: KKLZ, Beasley, KBET, KCYE

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