KLOS Sold - Now it's a Fact!

[macattack]

I was streaming KLOS out of curiosity and they were spinning "Too Bad" by Rival Sons and not long afterwards they spun the "Blue on Black" cover by Five Finger Death Punch.

They've also been sprinkling 90's and 00's rock into the playlist.

I am not so sure this is going to be a classic rocker for much longer. The new ownership seems to want to convert KLOS into a Mainstream Rock station, albeit gradually.

Image for posterity/proof.

 

[MarkW]

That's nothing new; what you observed predates the sale and has been occurring for many months. Although, I will say right around the time 100.3 The Sound went away, KLOS did revert to a nearly all Classic Rock sound, but that lasted only a handful of months.

 

[Y2kTheNewOldies]

https://radioinsight.com/headlines/177488/cumulus-cuts-debt-by-200-million/

New Report on Cumulus and the pending approval for Meruelo to take full ownership of KLOS-FM

The debt prepayment is being funded by the net proceeds of the previously announced sale of six radio stations to Educational Media Foundation, which closed on May 31, 2019, for $103.5 million in cash, as well as cash on hand generated from operations. Separately, the Company previously announced it had entered into an agreement to sell KLOS-FM in Los Angeles to Meruelo Media for $43 million in cash. That transaction is still expected to close in the third quarter, and its net proceeds will also be used to pay down debt.

Mary G. Berner, President and Chief Executive Officer of Cumulus Media, said, “In our ongoing efforts to strengthen the business, Cumulus has been relentlessly focused on executing our key strategic priorities and meeting our financial objectives. The milestone we achieved today — $200 million of debt reduction in the first year since we emerged from Chapter 11 — resulted from those efforts and is another example of the progress we continue to make in implementing our business plan.”

 

[Frequency1]

https://radioinsight.com/headlines/177488/cumulus-cuts-debt-by-200-million/

New Report on Cumulus and the pending approval for Meruelo to take full ownership of KLOS-FM

The FCC has approved the sale of KLOS-FM to Meruelo.

 

[Y2kTheNewOldies]

https://www.youtube.com/watch?v=02rNf4CSk7w

Update on the Meruelo deal to get KLOS and KXOS.

Meruelo Media has closed on its purchase of Rock KLOS-FM (95.5)/Los Angeles from Cumulus Media and Regional Mexican KXOS-FM (93.9) from Grupo Radio Centro. KLOS and KXOS become the sixth and seventh stations in Meruelo Media's Los Angeles cluster, which includes KPWR-FM, KDAY-FM and KDEY-FM, as well as television stations KWHY-TV and KBEH. Meruelo Media plans to relocate KLOS's operations from Culver City to its Burbank facility later this year, while KXOS already operates there.

The company's current executive team is taking the reins of KLOS's operations, with Otto Padron serving as interim Market Manager, Tomas Trujillo overseeing the day-to-day operations, VP of Client Solutions David Criscitelli overseeing sales activities and VP of Marketing Dianna Jason overseeing communication and marketing activities. KLOS PD Keith Cunningham will continue to serve in his role.

 

[henry]

"We are excited to build on the heritage of KLOS."

Format is safe for now.

"Exciting news about KXOS."

Putting the "exit" in Exitos, I guess.

 

[Y2kTheNewOldies]

https://radioinsight.com/headlines/179004/meruelo-media-closes-on-klos-makes-staffing-announcements/


Here is the correct Link and update

Meruelo Media has closed on its purchases on “Radio Centro 93.9” KXOS Los Angeles from Grupo Radio Centro and Rock 95.5 KLOS Los Angeles from Cumulus Media.

Meruelo Media President Otto Padron is taking on the additional role of interim Market Manager for the cluster which also includes Classic Hip-Hop 93.5 KDAY Redondo Beach/KDEY Ontario, Rhythmic CHR “Power 106” 105.9 KPWR and two television stations.

At KLOS, the company has assigned Tomas Trujillo to oversee the day-to-day operations of the station as it continues to operate out of Cumulus Media’s facilities until later this year. Keith Cunningham will continue to serve as Program Director.

 

[Y2kTheNewOldies]

https://radioinsight.com/headlines/179092/cumulus-cuts-another-50-million-from-debt/

Update on the Cumulus Debt situtation.

Cumulus Media has announced it has made a voluntary $50 million debt prepayment following the closing of its sale of Rock 95.5 KLOS Los Angeles to Meruelo Media.

Cumulus used the $43 million proceeds from the KLOS sale and additional cash on hand to add to the trimming of its debt that the company has done since exiting Chapter 11 bankruptcy protection last year. The company states it has cut nearly $250 million from its debt to bring the number owned down to approximately $1.05 billion.