Re: Univision to buy Entravision's KBRG, KLOK
From Reuters:
Univision to buy two Entravision radio stations
NEW YORK, July 26 (Reuters) - Univision Communications Inc (UVN.N), the No. 1 Spanish-language broadcaster in the United States, on Tuesday said it agreed to purchase two radio stations from Entravision Communications Corp. (EVC.N) for $90 million.
Univision said it expects to pay for the transaction with Entravision shares it owns, part of a commitment to reduce its stake in Entravision to 15 percent under the company's 2003 purchase of Hispanic Broadcasting Corp.
Univision will purchase stations KBRG and KLOK, which serve the San Francisco and San Jose, California, areas. The transaction is expected to close in the first quarter of 2006.