Cumulus Plans Sale Of Land Under KABC-KLOS/Los Angeles
November 14, 2013 at 4:18 PM (PT)
CUMULUS MEDIA plans to sell the land under the studio facilities of Talk KABC-A and Classic Rock KLOS/LOS ANGELES, reports the LOS ANGELES TIMES.
The paper quotes real estate experts as estimating the value of the land, at the northwest corner of La Cienega Blvd. and Jefferson Blvd. adjacent to the Metro Expo Line light rail, at over $90 million. The land includes the studios for both stations in a 45,000 square foot building, and CUMULUS is exploring ways to remain on the site as a tenant after the land is sold. The transmitter and towers for KABC are also on the property.
Co-COO JOHN DICKEY said, “All of us at CUMULUS are excited about this opportunity to collaborate with LOS ANGELES leaders and play a major role in the redevelopment of WEST L.A."