CBS Corporation has announced that it will sell four of its owned radio stations in Portland, Oregon to Alpha Broadcasting. CBS has signed a definitive agreement with Alpha Broadcasting to sell following radio stations for $40 million in cash:
KINK-FM – Adult Album Alternative
KUPL-FM – Country
KUFO-FM – Active/Alternative Rock and
KCMD-AM – Talk
Dan Mason, President and Chief Executive Officer, CBS RADIO said “I am pleased that we were able to secure another attractive deal for our valuable radio assets. With this sale of our Portland stations – our third deal in the past eight months for a total of twelve station sales – we’re another step closer to our goal of focusing primarily on the nation’s largest markets where we see the most long-term promise. The marketplace for station sales is improving, so we expect to make further progress on that goal going forward.”
Larry Wilson, the Chairman and Chief Executive Officer of Alpha Broadcasting, said, “The purchase of these great stations is a perfect complement to the acquisition of news talk KXL-AM and KXTG-FM in Portland. With this dynamic cluster, Alpha will be able to serve a wide array of Portland residents. The mission of Alpha Broadcasting is to provide entertaining, informative, and compelling programming for the people of Portland, and to produce fantastic results for the Portland advertisers we serve while being upstanding citizens of the community.”
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