Emmis Extends Deadline For KXOS 'Discounted Price' Sale To August 8th
July 23, 2012 at 4:37 AM (PT)
EMMIS COMMUNICATIONS CORP. has extended until AUGUST 8th the time by which GRUPO RADIO CENTRO, S.A.B. DE C.V. can buy Spanish Top 40 KXOS (EXITOS 93.9)/LOS ANGELES at the discounted price of $85.5 million (rather than the $110 million originally set forth in the parties' Put and Call Agreement).
The original deadline was set for 30 days after FCC approval of the deal, which was approved on JUNE 22nd.
GRUPO RADIO CENTRO's Board of Directors is scheduled to meet and vote on the deal on AUGUST 3rd (NET NEWS 7/20).