Price For KFNC/Houston: $5.05 Million
August 20, 2012 at 11:09 AM (PT)
As first reported in MAY (NET NEWS 5/24), GOW COMMUNICATIONS is buying Sports KFNC (ESPN 97.5 THE TICKET)/BEAUMONT-HOUSTON from AR LICENSING LLC, the company headed by broker LARRY PATRICK that was set up for CUMULUS spin-offs, but now there's a price attached: $5.05 million. GOW owns crosstown Sports KGOW-A (1560 THE GAME) and operates YAHOO! SPORTS RADIO.
PATRICK and GREG GUY of PATRICK COMMUNICATIONS served as exclusive brokers for the deal.