The management of KMPC-AM has confirmed to staff that the station will be sold to Capital Cities/ABC, reportedly for $ 18 million to $ 20 million.

The sale will likely result in a change in format for the low-rated all-sports station and will cause staff layoffs, a memo circulated at the station warned.

Golden West Broadcasting owners Gene and Jackie Autry entered into an agreement in principle with CapCities a few months ago, but sources said a final deal had been delayed until differences between the new owners and Jackie Autry could be resolved.

The sale, which would give CapCities a duopoly in the market with two AM stations (the other being KABC, as well as KLOS-FM), will be subject to the approval of the FCC.

However, the FCC already granted ABC a waiver to operate both radio and TV stations in the same market, and that could prove to be a stumbling block for KMPC.

If the sale is approved, it is expected that KMPC will eventually move out of its Sunset Boulevard studio adjoining the KTLA lot and will share quarters with the KABC/KLOS radio operation on S. La Cienaga Blvd.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0