The FCC has given final approval to Townsquare Media’s $18.75 million purchase of Cherry Creek Media’s 35 stations in nine markets.
When the deal closes, one station will be temporarily left behind. Townsquare has requested that Cherry Creek’s Regional Mexican “La Super 92.5” KZHR Dayton WA remain behind at closing instead of being placed in the Allen N. Blum led Tri-Cities Divestiture Trust that will still receive Townsquare CHR “97.5 Kiss-FM” KOLW Basin City. Townsquare states it will shortly submit a further amendment to demonstrating compliance with the local radio ownership rule allowing it to retain KZHR along with the other stations in its soon-to-be combined Kennewick/Richland/Pasco cluster.
While awaiting that potential amendment, Cherry Creek will retain KZHR and its employees while paying a $2500 per month fee to Townsquare for shared services including engineering, IT, traffic, accounting, website and promotions.
Townsquare is seeking to add KZHR to what will be its combined cluster of their “97 Rock” 97.1 KXRX, Hot AC “98.3 The Key” KEYW, Country 102.7 KORD, News/Talk 870/98.7 KFLD and Cherry Creek’s AC “Mix 105.3” KONA-FM, News/Talk 610 KONA and the Pacific Northwest AG Network. The license of CHR “97.5 Kiss-FM” KOLW will be moved into the Tri-Cities Divestiture Trust to be spun-off.
This story first appeared on radioinsight.com