Confirmed Again: CBS Ready To Sell KFWB/Los Angeles
March 29, 2010 at 4:26 AM (PT)
Confirming ALL ACCESS reports on the station's future (NEW NEWS, 2/2) and its interim management (NET NEWS 2/10), the L.A. BUSINESS JOURNAL also reports that CBS RADIO is readying News/Talk KFWB-A/LOS ANGELES for sale. The sale would come eight years after the FCC first told CBS to get rid of one of its L.A. properties to comply with limits on the number of stations one owner can hold in each market.
"CBS RADIO will put KFWB into a trust run by BILL CLARK, a longtime radio vet who lives in THE BAY AREA," says the report. "Once the trust has ownership of the station, it will seek a buyer." The sale comes at a time when both all-News stations in LOS ANGELES, KFWB and sister KNX-A, have seen double-digit declines in revenue.
Industry insiders said CBS RADIO likely chose to sell KFWB because "the station has the lowest ratings and the weakest signal strength of all its local properties. A spokeswoman for CBS RADIO declined to comment except to say the sale of KFWB 'is purely a business decision based on a thorough evaluation of all our properties in the market.'"