Radio powerhouses Cox Radio and AMFM have swapped a number of key stations, giving Cox increased strength in the South and New England, while allowing AMFM to solidify its hold on Los Angeles broadcasting.
Under the deal announced Monday, financial terms of which were not disclosed, AMFM will acquire KOST-FM and talk outlet KFI-AM in Los Angeles in exchange for thirteen smaller stations in Miami, Jacksonville, Atlanta, and Stamford and New Haven, CT.
With KOST and KFI, home of Dr. Laura Schlessinger and Rush Limbaugh, AMFM will own seven L.A.-area radio stations.
Regs must OK
The agreement must still be approved by the boards of directors of both companies, as well as the FCC and other regulatory agencies.
“This agreement represents a unique opportunity for AMFM and Cox to strengthen clusters in markets which they already serve,” said AMFM Vice Chairman James E. de Castro. “The swap … positions AMFM as the leading radio group operator in Los Angeles.”