GRC Exercises Right To Buy KXOS/L.A. From Emmis

Now Owns KXOS

GRUPO RADIO CENTRO, S.A.B. de C.V.  has exercised its right to buy Spanish Hits KXOS (EXITOS 93.9)/LOS ANGELES from EMMIS COMMUNICATIONS.  The buyer has been programming the station under an LMA. GRC's 93.9 HOLDINGS , INC., 25% owned by GRC and the rest by members of the AGUIRRE family who are U.S. citizens, is paying $85.5 million for the station.

In order to finance the acquisition, 93.9 HOLDINGS, INC. entered into a $90 million senior secured credit facility guaranteed by GRC and some of its operating subsidiaries with a group of lenders headed by CREDIT SUISSE.

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