Control Of KFOX/L.A. Sold

Control of the license of Korean KFOX-A/TORRANCE-LOS ANGELES is being sold by the SIEGEL family trust, WARREN CHANG, and THOMAS Y. CHUNG to KOREA TIMES owner HYUN JOO CHANG for $22.58 million. HYUN JOO CHANG's group already programs the station under an LMA; the deal transfers 70% ownership in the licensee to 30% shareholders JAE MIN CHANG, NICHOLAS CHANG, and GRANT CHANG, who will then transfer 70% of the licensee (CHAGAL COMMUNICATIONS) to HYUN JOO CHANG.

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